RBL Bank Receives ₹164 Crore GST Show Cause Notice for Bullion Business
RBL Bank received a GST show cause notice for ₹164.14 crore (including interest and penalty) for FY23. The notice relates to alleged input tax credit mismatches in its Bullion business. The bank is reviewing the notice and believes it has a strong case, expecting no material adverse impact.
While the bank believes there will be no material adverse impact, a tax demand of over ₹164 crore is substantial and could potentially impact liquidity or profitability if not resolved favorably.
The company has received a significant tax demand notice, which is a negative development.
RBL Bank Limited has received a show cause notice (SCN) dated September 02, 2026, from the Assistant Commissioner, Delhi, under Section 73 of the Goods and Services Tax Act, 2017.
The SCN proposes a Goods and Services Tax (GST) demand aggregating to ₹164,13,53,222/-, which includes applicable interest and penalty. This demand pertains to the financial year 2022-23 and is related to an alleged mismatch in input tax credit reported in GST returns for the Bank's Bullion business vertical.
The Bank is currently reviewing the SCN and will submit its response within the stipulated timelines. RBL Bank's preliminary assessment suggests the demand arises from an erroneous comparison and reconciliation of returns and data. The Bank believes its position is supported by its records and reconciliations and does not anticipate any material adverse impact on its operations or financial standing based on the current facts and assessment.
This information is being hosted on the Bank's website at www.rbl.bank.in in compliance with Regulation 46(2) of SEBI Listing Regulations.
A plain-language summary of a public exchange filing by RBL Bank Limited. Read the original for the full detail.