New Delhi: Kotak Mahindra Bank on Saturday said it has received an order from the Additional Commissioner of Central Goods and Services Tax, Ahmedabad, raising a tax demand of over ₹61 lakh for alleged irregularities related to input tax credit under the GST regime.
In a regulatory filing to stock exchanges, the private sector lender said the order, dated December 12, 2025, was received on December 20. The demand includes ₹30.49 lakh towards GST and applicable interest under the Central and Gujarat GST Acts, along with a non-discretionary penalty of ₹30.69 lakh imposed under Section 74 of the CGST Act and related provisions.
The demand pertains to the disallowance of input tax credit for the period spanning financial years 2018-19 to 2020-21, the bank said. Kotak Mahindra Bank added that it believes it has adequate grounds to contest the order and is evaluating the option of filing an appeal under the applicable laws.
“The impact of the order would be limited to the amount of levy payable under the said order,” the bank said, indicating that there would be no material effect on its overall financial position