Rajasthan GST Department issues Demand Order Against Bandhan Bank

The Deputy Commissioner of State Tax, Jaipur (Rajasthan) has issued a demand order against Bandhan Bank Limited under Section 73 of the RGST Act, 2017/ CGST Act, 2017 about a GST matter.

According to the exchange filing, the order was issued under Section 73 of the Rajasthan Goods and Services Tax Act, 2017 / Central Goods and Services Tax Act, 2017, for alleged Input Tax Credit that was wrongfully claimed and availed.

The Order was issued in response to the Bank’s claim that it had incorrectly claimed and obtained ITC (input tax credit) for the financial year 2019-20. The GST Department seeks a total penalty of Rs. 27,80,410 (including tax of Rs.15,02,924 with interest of Rs.11,27,194 and penalty of Rs. 1,50,292).

The banks stated that the Order had no meaningful impact on their finances, operations, or other activities.