IndusInd Bank share price declined more than 5% on Tuesday, after the private lender informed that the GST authorities in Thane district have imposed a penalty of over ₹30.15 crore for various issues. IndusInd Bank shares fell as much as 5.32% to ₹633.55 apiece on the BSE.
IndusInd Bank, which is already facing a probe over derivative account discrepancies, also said that it may file an appeal against the GST order.
“…we hereby inform that a penalty of Rs. 30,15,18,000/- has been imposed on the Bank by Joint Commissioner of CGST & Central Excise, Thane Commissionerate for various GST issues. The Bank will explore filing of appeal against the order,” IndusInd Bank said in a regulatory filing on March 24.
Read more at: Livemint
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