A private sector lender is disputing a tax calculation. The lender received a notice proposing a significant tax demand. This demand includes interest and penalty for a specific financial year.

The notice is linked to the lender's bullion business. It was issued under a particular section of the Goods and Services Tax Act. Further details about the notice and the proposed demand are available.

The lender disclosed this development in a regulatory filing, which provides more information about the proposed demand and the lender's response.