Vanshika verma | Mar 27, 2026 |
J&K Bank Faces Rs 400 Crore GST Demand, Including Interest and Penalty
Jammu and Kashmir Bank Ltd (J&K Bank), one of India’s oldest private sector banks, issued a disclosure to the stock exchange regarding receipt of a demand notice worth Rs 400 crore from the GST department.
Background of the case
The company stated that it has received a demand notice of Rs 400 crore from the Additional Commissioner, Central GST Commissionerate, Jammu, for a GST Liability of Rs 200,20,80,009.00 with interest as applicable, along with an equal amount of penalty.
Key Details
| Particulars | Details |
| Issuing Authority | Additional Commissioner, Central GST Commissionerate, Jammu |
| Demand Amount | Rs 400 crore, including penalty and interest |
| Date of Order | 23-Mar-26 |
Experts Point of View
Financial experts said such tax demands are subject to legal and procedural review, and companies often seek clarification or challenge them through appropriate forums.
Bank’s Response
The notice is significant because it could affect the bank’s finances and compliance rules. However, the bank has not yet clarified whether it will challenge the demand or pay it.
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