GST demand of Rs 2.18 crore over tax credits and cheque return charges
BANDHANBNK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The Mumbai GST and customs department issued a demand on October 3, 2025, covering FY2018-19 to FY2022-23. It alleges excess or ineligible tax credits and unpaid GST on cheque return charges. The total is Rs 2,17,61,705: tax of Rs 1,08,36,554, interest of Rs 38,597 and penalty of Rs 1,08,86,554, plus further interest. The bank says the impact is not material and is reviewing whether to appeal.
The bank reports no material impact. If the demand stands, the outflow and additional interest could reduce profit and cash flow.