Kotak Mahindra Bank receives ₹61.19 Lakh GST demand and penalty order
Kotak Mahindra Bank Limited has received an order dated December 12, 2025, from the Additional Commissioner of Central Goods and Service Tax, Ahmedabad. The order, received on December 20, 2025, levie...
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Why is Kotak Mahindra Bank Limited in the news today?
Kotak Mahindra Bank Limited (KOTAKBANK) is in the news due to the bank has received a significant demand for gst and a penalty, which is a negative financial event.
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Kotak Mahindra Bank receives ₹61.19 Lakh GST demand and penalty order
December 21, 2025, 07:02 AM
Kotak Mahindra Bank Limited has received an order dated December 12, 2025, from the Additional Commissioner of Central Goods and Service Tax, Ahmedabad. The order, received on December 20, 2025, levies an amount of ₹30,49,675 towards Goods and Services Tax (GST) and applicable interest. Additionally, a consequential non-discretionary penalty amounting to ₹30,69,675 has been imposed under relevant sections of the CGST and GGST Acts.
This demand has arisen due to the disallowance of input tax credit during the financial years 2018-19 to 2020-21, as per GST Law. The bank believes it has strong grounds to contest this order and intends to file an appeal. The financial impact of this order is limited to the total levy payable by the bank, which amounts to ₹61,19,350 (₹30,49,675 + ₹30,69,675).
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