UCO Bank has received a favorable order from the Appellate Authority regarding a previous GST demand. The tax liability has been reduced from ₹1,473.48 crore to ₹4.86 crore, excluding applicable interest and penalties. This outcome follows an appeal filed by the bank against an order originally passed on February 7, 2025. The bank is currently evaluating the implications of this decision and determining the next steps to conclude the matter.
Significant Reduction in Tax Liability
UCO Bank has successfully challenged a major GST demand order, resulting in a substantial reduction of the total claim. Following an appeal filed with the Office of the Commissioner of GST & CX (Appeals-I), Mumbai, the Appellate Authority issued an order on April 24, 2026, which was received by the bank on May 4, 2026.
Financial Impact
The revised order brings the outstanding GST demand down to ₹4.86 crore, a significant decrease from the original demand of ₹1,473.48 crore. While the bank is now liable for this reduced amount plus applicable interest and penalties as per the CGST Act, 2017, the ruling represents a major relief compared to the initial assessment.
Next Steps
The bank is currently in the process of thoroughly evaluating the details of the appellate order. Management is reviewing the ruling to determine the necessary next steps and to ensure full compliance with the updated directive. Further actions will be taken in accordance with the findings of this evaluation to resolve the matter effectively.
Source: BSE
