IDBI BANK LIMITED IDBI Bank Limited announced that a penalty of INR 159.9 million has been imposed on the Bank by Deputy Commissioner, Jurisdiction: MUM-VAT-E-603,MUM-LTU-503,GST Bhavan, Mazgaon, Maharashtra. Name of the authority Deputy Commissioner, Jurisdiction: MUM-VAT-E-603, MUM-LTU-503, GST Bhavan, Mazgaon, Maharashtra. Period Involved Fiscal Year 2018-19.
Order in original under section 73 of CGST Act, 2017. Alleged wrongly availed block Input Tax Credit and excess availment, utilization of Input Tax Credit (ITC), non-admissibility of adjustments to turnover in GSTR 9C. Tax- INR 1,599 million, Interest INR 1,726.9 million and penalty- INR 159.9 million.
