Dhanlaxmi Bank Limited has received a penalty of ₹ 2,27,32,298 which includes IGST of ₹ 11,50,648; CGST of ₹ 1,07,90,825 & SGST of ₹ 1,07,90,825 for the period from 1 July, 2017 to 31 March, 2021 u/s 74(9) of the KSGST / CGST Act, 2017, According to the Company’s regulatory filing.
Deputy Commissioner, Taxpayer Services Circle, Thrissur City, Thrissur, Kerala passed the order against irregular availment and utilization of input tax credit in the GST returns and statements as required under GST law.
The Bank is likely to challenge the order before an appropriate authority. “The Bank would be filing appeals against the Order before the appropriate Appellate Authority and therefore,” said Dhanlaxmi Bank in an exchange filing.
The disclosure before the exchange was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
