Tax & Penalty6 Jun 2026, 12:31 pm

Yes Bank GST Demand Confirmed at ₹63.27 Cr

AI Summary

Yes Bank has received an Order-in-Appeal from the Maharashtra GST department confirming a demand of Rs. 63,26,98,888/- (approximately ₹63.27 crore) including penalty for the period July 2017 to June 2018. This order, passed under Section 107(11) of the CGST Act, 2017, confirms the demand previously raised in the Order-in-Original. The bank stated that no new or additional demand has been created. Yes Bank believes it has strong grounds to contest the order and plans to file an appeal within the prescribed timelines. The bank does not anticipate any material impact on its financial or operational activities.

Key Highlights

GST demand including penalty confirmed at ₹63.27 crore.
Order pertains to July 2017-June 2018 period.
No new demand created; order confirms previous demand.
Bank plans to appeal the order.
No material financial or operational impact expected.

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YESBANK

Private Sector Bank

YES BANK LTD.

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