GENERAL28 Sept 2026
Equitas Small Finance Bank GST demand cut to ₹24 crore from ₹534 crore - CNBC TV18
Equitas Small Finance Bank's proposed GST demand has dropped to ₹23.95 crore from ₹533.81 crore. The cut followed a personal hearing on September 25 and a note from the GST authority. The revised figure has ₹21.67 crore tax, ₹0.11 crore interest and ₹2.17 crore penalty. The bank says the balance should also be exempt. It shows a big notice can shrink once you explain your case.
Key Statutory Highlights
- Equitas Small Finance Bank's proposed GST demand was cut to ₹23.95 crore from ₹533.81 crore.
- The reduction came after a personal hearing held on September 25 and a later communication from the GST authority.
- The revised amount includes ₹21.67 crore tax, ₹0.11 crore interest and ₹2.17 crore penalty, and the bank believes the remaining amount is also eligible for exemption.
Actionable Advice for Taxpayers / Founders:If you receive a large GST demand, reply with your records and, where the law allows, ask for a personal hearing instead of accepting the full amount as it stands.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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