J&K Bank gets ₹16,000 crore GST notice, more than bank's entire m-cap

The Jammu and Kashmir Bank (J&K Bank) has received an over ₹16,000-crore GST notice. The notice includes GST liability of over ₹8,000 crore with interest as applicable and a penalty of over ₹8,000 crore. The GST demand notice is more than J&K Bank's entire market capitalisation of a little over ₹11,000 crore. The bank's shares fell over 2% on Wednesday.