YES BANK has received an Order-in-Appeal from the Uttar Pradesh GST department regarding a matter from FY 2021-22. The penalty demand has been reduced from ₹3,30,55,942/- to ₹3,02,31,095/-, due to a partial demand being dropped in the bank’s favor. The bank intends to take appropriate steps, including contesting the order through appeal within the prescribed timelines.
GST Order-in-Appeal Received
YES BANK Limited announced on June 21, 2026, that it has received an Order-in-Appeal (O-I-A) from the Goods and Services Tax (GST) department of Uttar Pradesh. This order pertains to the fiscal year FY 2021-22. The O-I-A, dated June 20, 2026, issued by the Additional Commissioner (Appeals), confirms a penalty of ₹3,02,31,095/-, along with applicable tax demand and interest, in accordance with Section 73 of the CGST Act.
Reduction in Penalty
This new order represents an update to a previous intimation made by the bank on December 25, 2025. The earlier intimation concerned an Order-in-Original (O-I-O) passed by the Joint Commissioner, which had levied a penalty of ₹3,30,55,942/-. The current Order-in-Appeal has resulted in a reduction of the penalty amount by ₹28,24,847/-, bringing it down to ₹3,02,31,095/-. This reduction is attributed to a partial demand being dropped in favor of the bank.
Impact and Future Actions
YES BANK has stated that it believes it has adequate factual and legal grounds to substantiate its position. At this juncture, the bank does not expect any material adverse impact on its financial, operational, or other activities due to this order. The bank confirms that it will undertake necessary legal remedies and take appropriate steps, including contesting the order through further appeals within the stipulated timelines.
Disclosure Requirements
The information is provided in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related master circulars. Details regarding the authority, nature of action, date of receipt, violation, and impact have been furnished as per the disclosure requirements.
Source: BSE
