Kotak Mahindra Bank Shares Plunge On Gst Woes

Kotak Mahindra Bank shares plunge on GST woes

Mumbai, Dec 29 : Shares of Kotak Mahindra Bank plunged on Friday, a day after an order by the GST authorities issued a demand order to the mid-sized bank to pay pay up Rs 57.2 lakh as tax dues.

 Kotak Mahindra Bank Shares Plunge On Gst Woes-TeluguStop.com

The GST authorities have disallowed the input tax credit (ITC) on certain expenses during FY18 and FY19 claimed by the bank.

A total of Rs 57.20 lakh has been levied on account of central goods and services tax (CGST), along with applicable interest and a penalty of Rs 5.1 lakh.

At 1:26 pm, Kotak Mahindra Bank shares were trading 1.36 percent lower at Rs 1,895.20 on the National Stock Exchange.

pannu/dan

</

#Kotak #Mahindra #Bank #plunge #woes #Mumbai #StockExchange #SenSex #Nifty #India #Economy #Mumbai

.

Follow Us on FacebookFollow Us on WhatsAppFollow Us on Twitter