Kotak Mahindra Bank has received a GST demand order amounting to ₹30.49 lakhs, along with an equivalent penalty of ₹30.69 lakhs. The demand arises from disallowance of input tax credit for financial years 2018-19 to 2020-21. The bank intends to appeal the order, believing it has adequate grounds. The impact will be limited to the levy amount.
GST Demand Notification
Kotak Mahindra Bank has been notified of a demand related to Goods and Services Tax (GST). The bank received the order on December 20, 2025, with the original order dated December 12, 2025.
Financial Implications
The GST demand totals ₹30,49,675. Additionally, the bank faces a consequential non-discretionary penalty of ₹30,69,675. These amounts are linked to the disallowance of input tax credit as per GST regulations for the financial years 2018-19 through 2020-21.
Bank’s Response
Kotak Mahindra Bank intends to appeal the demand order. The bank believes it possesses adequate grounds to support its position. The financial impact is expected to be limited to the amount of the levy. The bank will also take steps to disseminate this information on its website.
Source: BSE
