Tax & Penalty8 Sept 2026, 12:48 pm
Yes Bank GST Penalty Reduced to ₹2.32 Cr by Appeals Commissioner
AI Summary
Yes Bank has received an Order-in-Appeal from the Principal Commissioner (Appeals-II) reducing a GST penalty. Initially levied at Rs. 3,01,50,149/- by the Joint Commissioner, GST department, Tamil Nadu, for the period FY 2017-18 to FY 2021-22, the penalty has now been reduced to Rs. 2,32,68,479/-. The bank believes it has strong grounds to contest the remaining demand and does not anticipate any material impact on its financial or operational activities. Yes Bank plans to pursue further legal remedies through an appeal within the prescribed timelines.
Key Highlights
- GST penalty reduced from ₹3.01 Cr to ₹2.32 Cr.
- Reduction follows an appeal against the Tamil Nadu GST department's order.
- Bank expects no material financial or operational impact.
- Yes Bank intends to pursue further legal remedies.
Price Impact
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