General Announcement::Intimation

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 06-Mar-2024 20:17:43
Status: New
Announcement Sub Title: Intimation
Announcement Reference: SG240306OTHRR476
Submitted By (Co./ Ind. Name): Dhanjit Thaivalappil
Designation: Deputy Vice President
Description (Please provide a detailed description of the event in the box below): It is hereby informed that, a penalty of Rs. 0.01 crore has been imposed on the Bank by State Tax Officer, Gujarat for matter/s mentioned in the below table.

The details are as follows:

Sr. no Particulars Details
1. Name of the authority State Tax Offcer
Gujarat.
2. Period Involved F.Y. 2018-19
3. Nature and details of the action(s) taken, initiated or order(s) passed Disallowance of Input Tax Credit - Order passed under section 73 of CGST Act.
4. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. 06-March-2024
5. Details of the violation(s)/contravention(s) committed or alleged to be committed Disallowance of Input Tax Credit
6. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible Rs. 0.20 crore (includes tax, interest, and penalty)

The Bank is evaluating appropriate legal remedy, including appeal, as per law.

Total size =745K