UCO Bank Gets Major Relief as GST Demand Slashed to Rs 4.86 Crore
UCO Bank, a prominent Indian public sector bank, disclosed to NSE Ltd. and BSE Ltd. regarding an update on an earlier GST demand order.
Background
The bank said that earlier, on February 7, 2025, it had informed it about a GST demand order issued by the tax authorities in Mumbai. The bank had challenged this order by filing an appeal with the GST Appellate Authority.
Now, the bank has received the decision on that appeal. In its order dated April 24, 2026, the authority has largely ruled in favour of the bank.
Because of this, the GST demand has been reduced from Rs 1,473.48 crore to just Rs 4.86 crore, along with interest and penalties as per the law.
Bank’s further step
The bank stated that it is currently reviewing the order and will decide its next steps accordingly.
Key details
| Particular | Details |
| Bank | UCO Bank |
| Issuing Authority | Additional Commissioner, CGST, Mumbai South Commissionerate |
| Earlier demand | Rs 1,473.48 crore |
| Demand reduced to | Rs 4.86 crore |
| Receipt of demand | May 4, 2026 |
Bank’s Disclosure
The bank made the above disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
