Legal24 Mar 2026, 07:54 pm
RBL Bank's GST Demand of ₹92 Crore Withdrawn by Assistant Commissioner of State Tax
AI Summary
RBL Bank Ltd. has informed the exchange about the withdrawal of a show cause notice under the Maharashtra Goods and Services Tax Act, 2017. The notice proposed a GST demand of ₹92,00,23,536 (inclusive of interest and penalty) for the financial year 2019-20. The Assistant Commissioner of State Tax, Mumbai, has concluded the proceedings and withdrawn the entire tax demand pursuant to Section 74 of the Maharashtra Goods and Services Tax Act, 2017. This information is in accordance with Regulation 30 and 46(2) of the SEBI Listing Regulations and has been made available on the Bank’s website.
Key Highlights
- RBL Bank received a show cause notice under the Maharashtra Goods and Services Tax Act, 2017 for the financial year 2019-20, proposing a GST demand of ₹92,00,23,536 (inclusive of interest and penalty).
- The Assistant Commissioner of State Tax, Mumbai, has withdrawn the entire tax demand (including interest and penalty) outlined in the show cause notice.
- The information has been made available on the Bank’s website in accordance with Regulation 46(2) of the SEBI Listing Regulations.