UCO Bank GST Demand Reduced by 99.67% to ₹4.86 Crore from ₹1,473.48 Crore
UCO Bank's GST demand has been reduced to ₹4.86 crore from ₹1,473.48 crore following a successful appeal. The Appellate Authority's order, received on May 4, 2026, substantially allowed the bank's appeal, significantly lowering the financial obligation.
While the reduction is substantial and positive, the remaining amount of ₹4.86 crore, along with interest and penalty, still represents a financial obligation for the bank. The impact is considered medium as it eases a significant financial burden but doesn't eliminate it entirely.
The reduction of the GST demand from ₹1,473.48 crore to ₹4.86 crore is a significant positive development for the bank, reducing its financial liability.
UCO Bank has announced an update regarding a GST demand order. Previously, on February 7, 2025, the Bank disclosed a GST demand of ₹1,473.48 crore passed by the Additional Commissioner, CGST, Mumbai South Commissionerate.
An appeal was filed by the Bank before the Office of the Commissioner of GST & CX (Appeals-I), Mumbai. This appeal has now been disposed of by the Appellate Authority via an order dated April 24, 2026, which the Bank received on May 4, 2026. The appellate order has substantially allowed the appeal, reducing the GST demand significantly to ₹4.86 crore, along with applicable interest and penalty as per the CGST Act, 2017.
The Bank is currently evaluating this order and will take appropriate steps as required.
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