IDBI Bank faces monetary penalty from Government of West Bengal
Disinvestment prone firm, IDBI Bank has informed the exchanges that a penalty of Rs 0.35...
New Delhi: Disinvestment prone firm, IDBI Bank has informed the exchanges that a penalty of Rs 0.35 crore has been imposed on the bank by Deputy commissioner, West Bengal. The jurisdiction of Large Taxpayers’ Unit, Corporate Division, Kolkata, West Bengal.
The nature of the order is original under section 73 of CGST Act, 2017. The period for which the penalty has been imposed is FY 2021-22.
The details of the violation has been cited as alleged excess availment and utilisation of Input Tax Credit (ITC) on same PAN and non filer and cancelled tax payer.
Further, the bank is evaluating appropriate legal remedy, including appeal as per law.
Loading...
Loading...