Yes Bank confirms Rs 63.27 crore GST demand in appeal order
Yes Bank has received an Order-in-Appeal from the Maharashtra GST department confirming a total tax demand of Rs 63,26,98,888 including penalty for the period July 2017 to June 2018. The order, passed on June 05, 2026, upholds the earlier demand without creating any new liability. The bank stated it does not expect a material impact and intends to file an appeal.
*this image is generated using AI for illustrative purposes only.
Yes Bank has received an Order-in-Appeal from the Maharashtra GST department confirming a total tax demand of Rs 63,26,98,888 including penalty for the period July 2017 to June 2018. The order, passed by the Commissioner (Appeals) on June 05, 2026, under Section 107(11) of the Central Goods and Services Tax Act, 2017, upholds the earlier demand without creating any new liability. The bank stated that it does not expect the order to have a material impact on its financial or operational activities and intends to file an appeal against the decision.
The intimation was submitted to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank clarified that this order serves as an update to a previous intimation made on November 23, 2024, regarding the Order-in-Original passed by the Joint Commissioner, CGST. The latest order confirms the demand raised in the original proceedings, maintaining the total financial implication at the same level.
According to the details provided in the filing, the total demand comprises a tax component of Rs. 31,63,49,444 and an equal penalty amount of Rs. 31,63,49,444. The aggregate figure of Rs. 63,26,98,888 includes applicable interest along with the penalty. The bank asserted that it possesses adequate factual and legal grounds to substantiate its position and will pursue necessary legal remedies within the prescribed timelines.
The disclosure was made by Sanjay Abhyankar, Company Secretary, on behalf of Yes Bank. The bank has hosted the weblink of the information provided to BSE Limited and National Stock Exchange of India Limited on its website. The filing references the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the disclosure requirements.
Breakdown of GST Demand
| Component | Amount |
|---|---|
| Total Tax | Rs. 31,63,49,444/- |
| Total Penalty | Rs. 31,63,49,444/- |
| Total Aggregate Demand | Rs. 63,26,98,888/- |
Historical Stock Returns for Yes Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.29% | -0.65% | +12.30% | +1.77% | +9.89% | +52.82% |
How will the prolonged legal battle over this GST demand impact Yes Bank's upcoming quarterly provisions and profitability?
What is the likelihood of success for Yes Bank's appeal at the next judicial level given the Commissioner's upholding of the original order?
Could this tax dispute set a precedent for similar GST liabilities being raised against other private sector banks for the same period?
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