Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
KOTAKBANK · price
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Awaiting price reaction for this filing.
Kotak Mahindra Bank has received an order dated December 29, 2025 from the Deputy Commissioner of State Tax, Business Audit Wing, Rajasthan, levying a total demand of about Rs. 2.33 crore. This includes GST of Rs. 1.27 crore, interest of Rs. 93 lakh, and a penalty of Rs. 12.67 lakh. The demand relates to the disallowance of input tax credit (ITC) claimed by the bank during FY 2021-22. The bank has stated it believes it has adequate grounds to contest the order and intends to file an appeal under the applicable laws. The financial impact is limited to the demand amount and is not considered material to the bank's overall position.
The demand is small relative to the bank's size and is unlikely to materially affect financials or share price. However, the outcome of the appeal and any additional demands from other states for similar ITC issues could be worth tracking.