SBI Cards Receives GST Show Cause Notice for Rs 81.93 Crore ITC Disallowance

Last updated: 03 July 2025


Quick Summary
SBI Cards has received a significant GST show cause notice from the CGST Department for a proposed disallowance of input tax credit (ITC) amounting to Rs 81.93 crore. The notice, covering the period from FY 2018-19 to 2020-21, primarily concerns mismatches between GSTR-2A and GSTR-3B filings, as well as ITC claimed on supplies from vendors with cancelled GST registrations or those who failed to file returns. SBI Cards maintains that it has complied with GST laws and is confident of a favourable resolution, planning to submit a detailed reply within the stipulated 30 days.

SBI Cards and Payment Services Ltd, India's leading pure-play credit card issuer, has received a show cause notice from the CGST Department proposing to disallow input tax credit (ITC) worth Rs 81.93 crore, the company informed stock exchanges on Tuesday. The notice, issued by the Additional Commis
Daily Limit Reached

You have reached your daily limit of 2 Free News

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Broadcasts
  • Daily E-Newsletter
  • Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
Buy CCI PRO Now

Already a PRO member? Login here for an ad-free experience.

FAQ :

SBI Cards is facing a proposed disallowance of input tax credit (ITC) worth Rs 81.93 crore.

The primary reason is mismatches between GSTR-2A and GSTR-3B filings, amounting to Rs 81.45 crore. An additional amount relates to ITC claimed on supplies from vendors whose GST registrations were cancelled or who failed to file returns.

The show cause notice was issued by the Additional Commissioner (East 1), CGST Gurugram, under the CGST Department.

The notice pertains to the assessment period from FY 2018-19 to 2020-21.

SBI Cards stated that it has availed ITC in compliance with GST law and is confident in the merits of its case, expecting a favourable outcome.

The authorities are seeking recovery of the disputed ITC along with interest and a penalty equal to the ITC amount claimed.




News posted by

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Click here to Login and post comments    OR



More »


Popular News





CCI Pro



Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
20 July 2026
Senior GST Executive

Chandak Agarwal & Co

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details