Yes Bank Receives GST Penalty Order
Yes Bank Limited announced that it received an order from the Goods and Services Tax (GST) department in Maharashtra on March 25, 2026. The order levies a penalty of Rs. 79,38,000 related to a GST matter concerning Input Tax Credit (ITC).The penalty was imposed under Section 122(1)(ii) of the Central Goods and Services Tax Act (CGST) and the Maharashtra Goods and Services Tax Act (MGST).
According to the bank, it believes it has adequate grounds to contest the order and plans to pursue legal remedies, including filing an appeal, within the prescribed timelines. Yes Bank does not anticipate a material impact on its financial, operational, or other activities as a result of the order.
Here's a summary of the key details regarding the GST order:
| Detail | Information |
|---|---|
| Authority | Maharashtra GST department |
| Nature of Action | Order under Section 122(1)(ii) of CGST and MGST Acts |
| Date of Order | March 25, 2026 |
| Details of Violation | Input Tax Credit (ITC) matter |
| Penalty Amount | Rs. 79,38,000 |
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.