Bandhan Bank fined ₹2.99 Crore by Gujarat GST Deputy Commissioner

Bandhan Bank Limited has received a demand order from the Deputy Commissioner, Range-2, Gujarat, concerning a Goods and Services Tax (GST) matter. The order, issued under Section 73 of the CGST Act, 2...

Bandhan Bank Limited has received a demand order from the Deputy Commissioner, Range-2, Gujarat, concerning a Goods and Services Tax (GST) matter. The order, issued under Section 73 of the CGST Act, 2017, alleges excess/ineligible Input Tax Credit availed/utilized and non-payment of GST on certain incomes for the Financial Year 2021-22. The total quantifiable amount involved is ₹2,99,96,684, comprising ₹1,68,93,674 in tax, ₹1,14,13,643 in interest, and ₹16,89,367 in penalty. Despite the order, the bank states there is no material impact on its financials, operations, or other activities. Bandhan Bank is currently examining the merits of the case to initiate necessary legal remedies, including filing an appeal before a higher authority. The disclosure was made on December 26, 2025, and is also available on the bank's website.

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Why is Bandhan Bank Limited in the news today?

Bandhan Bank Limited (BANDHANBNK) is in the news due to the bank has been issued a demand order with a significant financial implication, which is a negative development.

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Bandhan Bank fined ₹2.99 Crore by Gujarat GST Deputy Commissioner

December 26, 2025, 01:04 PM

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Bandhan Bank Limited has received a demand order from the Deputy Commissioner, Range-2, Gujarat, concerning a Goods and Services Tax (GST) matter. The order, issued under Section 73 of the CGST Act, 2017, alleges excess/ineligible Input Tax Credit availed/utilized and non-payment of GST on certain incomes for the Financial Year 2021-22.

The total quantifiable amount involved is ₹2,99,96,684, comprising ₹1,68,93,674 in tax, ₹1,14,13,643 in interest, and ₹16,89,367 in penalty. Despite the order, the bank states there is no material impact on its financials, operations, or other activities.

Bandhan Bank is currently examining the merits of the case to initiate necessary legal remedies, including filing an appeal before a higher authority. The disclosure was made on December 26, 2025, and is also available on the bank's website.

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