Yes Bank GST Penalty Reduced to ₹3.02 Cr

Yes Bank Ltd has received an Order-in-Appeal from the Uttar Pradesh GST department, reducing the penalty amount related to FY 2021-22. The initial penalty of ₹3.30 crore has been reduced to ₹3.02 crore, with the Goods and Services Tax department confirming the penalty in addition to tax demand and applicable interest. This update follows an earlier intimation on December 25, 2025, regarding the Order-in-Original. The bank intends to contest the order through further appeal within the prescribed timelines and believes it has strong grounds to substantiate its position, expecting no material impact on its financial or operational activities.