Jammu & Kashmir Bank Limited Receives GST Demand
The Jammu & Kashmir Bank Limited announced that it has received a demand dated March 23, 2026, from the Additional Commissioner, Central GST Commissionerate, Jammu, for a Goods and Services Tax (GST) liability. The demand includes a tax amount of Rs.200,20,80,009.00, along with applicable interest and a penalty of Rs.200,20,80,009.00.According to details provided, the demand pertains to the period beginning February 23, 2020, and ending March 2024, related to transactions under the Bank’s Transfer Pricing Mechanism (TPM). The GST demand arises from interest receivable under the TPM between the Corporate Headquarters and branches from a common pool of funds, which has been treated as...