General Announcement::Intimation

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 08-Mar-2024 00:44:09
Status: New
Announcement Sub Title: Intimation
Announcement Reference: SG240308OTHRG0QM
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. 0.005 crore has been imposed on the Bank by Deputy Commissioner (State Tax), Rajasthan for matter/s mentioned in the below table.

The details are as follows:

Sr. no Particulars Details
1. Name of the authority Deputy Commissioner (State Tax)
Rajasthan
2. Period Involved F.Y. 2018-19
3. Nature and details of the action(s) taken, initiated or order(s) passed Demand of GST on outward supply and disallowance of input tax credit -Order passed under section 73 of RGST/CGST Act.
4. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. 07-March-2024
5. Details of the violation(s)/contravention(s) committed or alleged to be committed Alleged short payment of GST on outward supply and excess availment of input tax credit
6. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible INR 0.02 crore (includes tax, interest and penalty)

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

Total size =570K