Yes Bank has been issued a penalty of ₹79,38,000 by the Maharashtra Goods and Services Tax (GST) department. The penalty pertains to the financial years 2019-20 to 2021-22 and was received by the bank on 25 March 2026. The fine has been levied under Section 122(1)(ii) of the Central Goods and Services Tax Act, 2017 (CGST Act) and the Maharashtra Goods and Services Tax Act, 2017 (MGST Act), concerning an Input Tax Credit (ITC) matter.
The bank has announced its intention to contest the order, stating that it has adequate factual and legal grounds to support its position. Yes Bank does not anticipate any material impact on its financial, operational, or other activities due to this penalty. It plans to take necessary legal actions, including filing an appeal against the order.
This development was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated 30 January 2026. The bank has also made this information available on its official website.
Yes Bank’s proactive approach in addressing the GST department’s order reflects its commitment to maintaining transparency and safeguarding its financial interests.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).