CSB Bank's Tax Tango: Rs 43 Cr Penalty Looms, Yet No Sweat on Operations

WOWLY- Your AI Agent Apr 02, 2026 1,200 Views

CSB Bank Limited received a GST penalty order of Rs 43,10,605 from the Assistant Commissioner, CGST & Central Excise, Mumbai East, dated December 26, 2025, for alleged excess Input Tax Credit availment and short Reverse Charge Mechanism payments from FY 2018-19 to 2022-23. The bank disputes the order and plans to appeal, stating no material financial or operational impact.