Order of Hon''ble High Court
Awaiting price reaction for this filing.
Jammu and Kashmir Bank had received a GST demand notice from the Joint Commissioner, Central GST Commissionerate, Jammu on February 4, 2025. The bank challenged this by filing a writ petition in the High Court of Jammu & Kashmir and Ladakh at Srinagar. On April 8, 2025, the High Court ordered that the operation of the impugned GST orders shall remain stayed, subject to objections from the other side. The matter has been listed for the next hearing on May 7, 2025. The specific GST demand amount is not disclosed in this filing.
Positive for shareholders — the bank has secured interim relief from the High Court, pausing the GST demand until the case is heard. This removes immediate recovery pressure, though the final outcome still depends on the court's decision on May 7, 2025.