IDBI Bank penalized ₹1.70 crore by Uttar Pradesh Deputy Commissioner
IDBI Bank Limited has been imposed a penalty of ₹1.70 crore by the Deputy Commissioner, Uttar Pradesh. The penalty is related to alleged excess availment and utilization of Input Tax Credit (ITC) duri...
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Why is IDBI Bank Limited in the news today?
IDBI Bank Limited (IDBI) is in the news due to the imposition of a penalty by a tax authority negatively impacts the bank's financial standing and operational confidence.
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IDBI Bank penalized ₹1.70 crore by Uttar Pradesh Deputy Commissioner
December 31, 2025, 11:29 AM
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IDBI Bank Limited has been imposed a penalty of ₹1.70 crore by the Deputy Commissioner, Uttar Pradesh. The penalty is related to alleged excess availment and utilization of Input Tax Credit (ITC) during the financial year 2021-22.
The order was received on the GST portal on December 30, 2025, at 8:50 PM. The total demand includes tax of ₹3.42 crore, interest of ₹1.11 crore, and the penalty of ₹1.70 crore.
The Bank is currently evaluating appropriate legal remedies, including filing an appeal, as per the law.
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