RBL Bank GST Demand of ₹92 Crore Withdrawn by Authorities
RBL Bank's GST demand of ₹92 crore, including interest and penalty, has been withdrawn by the Assistant Commissioner of State Tax, Mumbai. This follows a show cause notice issued for the financial year 2019-20. The withdrawal was ordered on March 24, 2026.
The withdrawal of a ₹92 crore tax demand is material for the bank's financial health and resolves a previously disclosed contingent liability, thus having a medium-term impact on its financial reporting and investor confidence.
The withdrawal of a significant tax demand, including interest and penalty, is a positive development for the company as it removes a potential financial liability and associated uncertainty.
RBL Bank Limited has announced a significant development regarding a GST demand notice. Previously, on October 1, 2025, the bank had disclosed receiving a show cause notice under the Maharashtra Goods and Services Tax Act, 2017, for the financial year 2019-20. This notice proposed a Goods and Services Tax (GST) demand amounting to ₹92,00,23,536, which included interest and penalty.
In an update dated March 24, 2026, the bank informed that the Assistant Commissioner of State Tax, Mumbai, has concluded the proceedings. Following an order dated March 24, 2026, the entire tax demand, including interest and penalty, has been withdrawn. This withdrawal was made pursuant to Section 74 of the Maharashtra Goods and Services Tax Act, 2017.
The bank has also made this information available on its official website at https://www.rbl.bank.in/, in compliance with Regulation 46(2) of the SEBI Listing Regulations. This development resolves a previously disclosed potential financial liability for the bank.
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RBL Bank Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by RBL Bank Limited. Read the original for the full detail.