Yes Bank Receives GST Order from Maharashtra Department; Total Demand Reaches Rs 63.27 Crores
Yes Bank Limited has received an order regarding a Goods and Services Tax (GST) matter spanning the period July 2017 to June 2018. The Commissioner (Appeals) of the Maharashtra department passed the Order on June 05, 2026, under Section 107(11) of the Central Goods and Services Tax Act, 2017.The order pertains to a GST demand along with the levy of penalty and applicable interest. This matter was first intimated to stock exchanges following an Order-in-Original passed by Joint Commissioner, CGST for the same amount. The current order serves as an update, confirming the original demand raised.
The details of the action taken by the Maharashtra GST department are summarized below:
| Authority | Nature of Action | Date Received | Violation Details |
|---|---|---|---|
| Maharashtra GST Department | Order under Section 107(11) CGST Act | June 05, 2026 | GST demand with levy of penalty and interest |
The financial impact resulting from the order has been quantified as follows:
| Component | Amount (Rupees) |
|---|---|
| Total Tax Demand | Rs 31,63,49,444/- |
| Total Penalty Demand | Rs 31,63,49,444/- |
| Aggregate Demand (Tax + Penalty) | Rs 63,26,98,888/- |
Yes Bank stated that while the order has been received, it maintains that it possesses adequate factual and legal grounds to substantiate its position in this matter. The institution noted that at this juncture, it does not expect any material impact on financial or operational activities due to the said Order. Yes Bank confirmed that it will take necessary legal remedy against the decision, including filing an appeal within prescribed timelines.
YESBANK Stock Price Movement
On Friday, shares of Yes Bank Limited edged higher, concluding the session at ₹23.30 after gaining 2.72% from the previous close. The stock saw robust trading activity as over 148 million shares were exchanged during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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