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City Union Bank Gets Major Relief As GST Demand Drops To Rs 208 Crore
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CNBC Awaaz•14-10-2026, 23:24
City Union Bank Gets Major Relief As GST Demand Drops To Rs 208 Crore
- •City Union Bank shares will be in focus following major relief in a GST case for the financial year 2021-22.
- •The tax demand has been significantly reduced from Rs 337.79 crore to Rs 208.91 crore following an order from the Madras High Court.
- •The overall GST demand amount has decreased by approximately Rs 128.88 crore, providing positive sentiment for the bank.
- •Investors are advised to monitor the bank's financial results and official disclosures alongside this legal development.
Key Questions Answered
Following the Madras High Court's remand order, City Union Bank's GST demand for the financial year 2021-22 was reduced from ₹337.79 crore to ₹208.91 crore, marking a decrease of approximately ₹128.88 crore.
The GST tax demand and subsequent reduction apply specifically to the financial year 2021-22.
A remand order occurs when a court sends a legal case back to the concerned authority for fresh consideration or re-examination, which in this instance resulted in a lowered GST demand.
