Latest


Kotak Mahindra Bank shares plunge on GST woes

  •   Fri, Dec 29 2023 01:43:10 PM

Mumbai, Dec 29 (IANS): Shares of Kotak Mahindra Bank plunged on Friday, a day after an order by the GST authorities issued a demand order to the mid-sized bank to pay pay up Rs 57.2 lakh as tax dues.

The GST authorities have disallowed the input tax credit (ITC) on certain expenses during FY18 and FY19 claimed by the bank.

A total of Rs 57.20 lakh has been levied on account of central goods and services tax (CGST), along with applicable interest and a penalty of Rs 5.1 lakh.

At 1:26 pm, Kotak Mahindra Bank shares were trading 1.36 percent lower at Rs 1,895.20 on the National Stock Exchange.

 
  

Top Stories


Leave a Comment

Title: Kotak Mahindra Bank shares plunge on GST woes



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like