IDBI Bank fined ₹0.35 crore by West Bengal tax authorities
IDBI Bank Limited has been imposed a penalty of ₹0.35 crore by the Deputy Commissioner, West Bengal. This penalty is related to matters concerning the Large Taxpayer’s Unit, Corporate Division, Kolka...
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Why is IDBI Bank Limited in the news today?
IDBI Bank Limited (IDBI) is in the news due to the bank has been imposed a penalty and interest, which negatively impacts its financials.
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IDBI Bank fined ₹0.35 crore by West Bengal tax authorities
December 29, 2025, 12:52 PM
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IDBI Bank Limited has been imposed a penalty of ₹0.35 crore by the Deputy Commissioner, West Bengal.
This penalty is related to matters concerning the Large Taxpayer’s Unit, Corporate Division, Kolkata, West Bengal, for the Financial Year 2021-22. The order, issued under section 73 of the CGST Act, 2017, pertains to alleged excess availment and utilization of Input Tax Credit (ITC) on the same PAN, and issues related to non-filers and cancelled taxpayers.
The total demand includes ₹3.55 crore for tax, ₹2.36 crore for interest, and the ₹0.35 crore penalty. The bank is currently evaluating appropriate legal remedies, including filing an appeal as per the law. The announcement was made on December 29, 2025.
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