Date: November 13, 2026
Other Operational / Legal / Strategic Disclosures
This disclosure is a follow-up to a prior intimation dated December 13, 2024. It concerns a legal matter related to the Central Goods and Services Tax (GST).
Original Order:
- The Bank had previously received an order from the Central GST Authority, Amritsar, Punjab.
- The order was for the period from FY 2017–18 to FY 2022–23.
- It imposed a penalty of ₹14,95,166.98 under Section 74(1) of the Central Goods and Services Tax Act, 2017.
Appeal Outcome:
- The Bank filed an appeal against this GST order before the First Appellate Authority, Punjab.
- The Order-in-Appeal was dated November 13, 2026, and was received by the Bank on the same day at 1:26 PM.
- The appeal was presided over by the Additional Commissioner (Appeals), Central GST, Punjab.
- The appellate authority allowed the Bank's appeal and set aside the original GST order in its entirety.
Financial Impact:
- Consequently, the original tax demand and penalty, each amounting to ₹14,95,166.98, stand nullified.
- The official impact on the financial, operation or other activities of the Bank is quantified as Nil.
- The appeal has been disposed of.
Regulatory References:
- It also complies with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
- The specific details are provided in the enclosed Annexure A.
Annexure A Details:
| Item | Detail |
| 1. Name of the authority | Additional Commissioner (Appeals), Central GST, Amritsar, Punjab |
| 2. Nature and details of the order | Appeal No. LUD-GST-001-APP-ADC-769/2026. The penalty imposed under Section 74(1) of CGST Act, 2017 is set aside. |
| 3. Date of receipt of order | November 13, 2026 |
| 4. Details of the alleged violation | Penalty imposed under Section 74(1) of CGST Act, 2017 is set aside. |
| 5. Quantifiable impact | Nil. The appeal stands disposed off. |