Federal Bank has received an order from the Department of Trade & Taxes, New Delhi, imposing a penalty of ₹23,36,830. The penalty order was received on December 29, 2025. The bank intends to file an appeal against this order. The details of the penalty stem from GST-related contraventions.
Penalty Imposed
Federal Bank has been notified of a penalty levied by the Department of Trade & Taxes in New Delhi. The penalty amount totals ₹23,36,830.
Basis of the Penalty
The penalty originates from an order issued under Section 73 of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017).
Next Steps
Federal Bank plans to challenge the order and will be filing an appeal. The bank received the order on December 29, 2025, at 10:59 A.M.
Violation Details
The penalty is related to violations or contraventions under Section 73(9) of the CGST Act, 2017, in conjunction with relevant sections of the IGST Act, 2017.
Source: BSE
