Jana Small Finance Bank Limited has informed the Exchange about Action(s) taken or orders passed
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Jana Small Finance Bank has received a GST order-in-original dated August 25, 2025, from the Additional Commissioner of Central Tax, Bengaluru East Commissionerate, Karnataka. The order under section 74(9) of the CGST Act, 2017 confirms a tax demand of Rs. 14.33 crore plus applicable interest, and imposes an equal penalty of Rs. 14.33 crore, taking the total potential outflow to roughly Rs. 28.65 crore. The dispute relates to the bank claiming 50% input tax credit on capital goods under section 17(4), which the tax authority did not accept, calling it a contravention of section 16(3). The demand covers financial years 2018-19 to 2022-23. The bank plans to file an appeal before the Commissioner (Appeals) and does not view the order as having a material financial impact, stating the position is legally defensible.
Although the combined demand and penalty is sizeable, the bank is contesting the order and believes its tax treatment is defensible, so near-term impact is expected to be limited. Shareholders should watch the appeal outcome, as an unfavorable ruling could create a meaningful one-time hit to earnings.