Yes Bank GST Penalty Reduced to ₹3.02 Crore from ₹3.30 Crore
Yes Bank received a GST appeal order reducing its penalty from ₹3.30 crore to ₹3.02 crore for FY21-22. The Bank plans to appeal the order, stating it does not expect a material financial impact.
The bank explicitly states that it does not expect any material impact on its financial, operational, or other activities due to the order, despite the penalty amount.
The penalty amount has been reduced, which is a positive development. However, the penalty still stands and the bank plans to appeal, indicating an ongoing legal matter.
Yes Bank Limited (YBL) has received an Order-in-Appeal from the Goods and Services Tax (GST) department, Uttar Pradesh, on June 20, 2026. The order pertains to a GST matter from FY 2021-22 and confirms a penalty of ₹3,02,31,095, along with tax demand and applicable interest, in accordance with Section 73 of the Central Goods and Services Tax Act, 2017.
This is an update to a previous intimation made on December 25, 2025, when the Bank received an Order-in-Original from the Joint Commissioner, which had levied a penalty of ₹3,30,55,942. The current order reduces the penalty demand by ₹28,24,847, as a portion of the demand was dropped in the Bank's favor.
The Bank intends to contest this order through an appeal within the prescribed timelines. While the penalty amount is ₹3,02,31,095, the Bank believes it has strong grounds to substantiate its position and does not anticipate a material impact on its financial, operational, or other activities due to this order.
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Yes Bank Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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