UCO Bank Gets Major Relief as Rs. 1,473.48 crore GST Demand Slashed to Rs 4.86 Crore:

UCO Bank Gets Major Relief as Rs. 1,473.48 crore GST Demand Slashed to Rs 4.86 Crore UCO Bank, a prominent Indian public sector bank, disclosed to NSE Ltd. and BSE Ltd. regarding an update on an earlier GST demand order.

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Background

The bank said that earlier, on February 7, 2025, it had informed it about a GST demand order issued by the tax authorities in Mumbai. The bank had challenged this order by filing an appeal with the GST Appellate Authority. Now, the bank has received the decision on that appeal. In its order dated April 24, 2026, the authority has largely ruled in favor of the bank. Because of this, the GST demand has been reduced from Rs 1,473.48 crore to just Rs 4.86 crore along with interest and penalties as per the law.

Bank's further step

The bank stated that it is currently reviewing the order and will decide its next steps accordingly.

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Key details

Particular	Details
Bank	UCO Bank
Issuing Authority	Additional Commissioner, CGST, Mumbai South Commissionerate
Earlier demand	Rs 1,473.48 crore
Demand reduced to	Rs 4.86 crore
Receipt of demand	May 4, 2026

Bank's Disclosure

The bank made the above disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.