CSB Bank fined ₹43.10 Lakhs by CGST; plans appeal.
CSB Bank Limited has been penalized ₹43,10,605 by the Assistant Commissioner, Division – III, CGST & Central Excise, Mumbai East. The order, dated December 26, 2025, was received by the bank on Decemb...
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CSB Bank Limited (CSBBANK) is in the news due to the company has been imposed a penalty, which is a negative development.
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CSB Bank fined ₹43.10 Lakhs by CGST; plans appeal.
December 29, 2025, 01:10 PM
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CSB Bank Limited has been penalized ₹43,10,605 by the Assistant Commissioner, Division – III, CGST & Central Excise, Mumbai East. The order, dated December 26, 2025, was received by the bank on December 29, 2025. The penalty was imposed under section 74 of the CGST Act, 2017, relating to alleged excess availment of Input Tax Credit and short payment of GST liability under Reverse Charge Mechanism for the financial years 2018-19 to 2022-23.
The bank disputes the order and intends to explore filing an appeal. According to the disclosures, the alleged violation pertains to excess Input Tax Credit and short payment of GST under RCM. The bank has stated that there is no material impact on its financial, operational, or other activities as a result of this order.
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