Bandhan Bank has received a demand order from the Assistant Commissioner, CGST & C.EX, Division-IX, Mumbai, pertaining to a GST matter. The order alleges excess/ineligible Input Tax Credit availed/utilized and non-payment of GST on cheque return charges. The amount is ₹2,17,61,705, including tax, interest, and penalty. The bank is evaluating legal remedies.
GST Demand Order
Bandhan Bank has received a demand order from the Assistant Commissioner, CGST & C.EX, Division-IX, Mumbai, regarding GST-related issues. The bank is currently assessing the situation and will pursue appropriate legal action.
Details of the Order
The demand order, received on October 3, 2025, pertains to alleged excess/ineligible Input Tax Credit availed/utilized and non-payment of GST on cheque return charges. The alleged violations span from FY 2018-19 to 2022-23.
Financial Impact
The total financial implication of the order amounts to ₹2,17,61,705, which includes:
- Tax: ₹1,08,36,554
- Interest: ₹38,597
- Penalty: ₹1,08,86,554
This amount is in addition to any applicable interest under Section 50 of the CGST Act, 2017. The bank maintains that there is no material impact on the bank’s financials or operations due to this order.
Next Steps
Bandhan Bank is currently examining the case to initiate necessary legal remedies, including an appeal. The bank is committed to resolving this matter appropriately.
Source: BSE
