J&K Bank Receives ₹400 Crore GST Demand Order, Plans to Appeal
The Jammu & Kashmir Bank Limited · J&KBANK · NSE ·
The bank has received a GST demand order totaling **₹400.41 crore** (₹200.2 Cr tax + ₹200.2 Cr penalty), plus applicable interest. The demand relates to GST levied on internal fund transfers (Transfer Pricing Mechanism), which the bank contends are non-taxable internal accounting…