Tax & Penalty28 Aug 2026, 02:35 pm
RBL Bank Receives ₹103.7 Cr GST Demand Notice
AI Summary
RBL Bank Limited has received a show cause notice from the Assistant Commissioner of State Tax-Mumbai, proposing a Goods and Services Tax (GST) demand of ₹103,76,98,197/- for the financial year 2020-21. This demand relates to input tax credit availed for its Digital Banking business vertical. The bank plans to respond within the prescribed timelines and believes it has strong grounds to contest the matter, citing favorable past orders on identical issues. RBL Bank does not anticipate any material adverse impact on its operations or financial position at this stage.
Key Highlights
- RBL Bank received a GST demand notice of ₹103.7 Cr for FY 2020-21.
- The notice concerns input tax credit for the Digital Banking business.
- The bank is confident in contesting the demand based on prior favorable rulings.
- No material adverse impact is expected on operations or financials.
Price Impact
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