IndusInd Bank Faces Rs 21.62 Crore GST Demand

IndusInd Bank faces a tax demand of Rs 21.62 crore for alleged GST short payment, as stated in a notice from the Deputy Commissioner of State Tax in Ahmedabad. The bank is considering an appeal against this order, which includes a penalty.

IndusInd Bank, a significant player in the banking sector, has been hit with a tax demand notice for approximately Rs 21.62 crore from tax authorities. The notice alleges a shortfall in the payment of the Goods and Services Tax (GST).

The demand order was communicated to the bank by the Deputy Commissioner of State Tax from Ahmedabad, Gujarat, highlighting various GST compliance issues.

The financial repercussions of this demand, inclusive of penalties, stand at Rs 21.62 crore. IndusInd Bank has mentioned that it is considering filing an appeal against this order.