YES Bank receives demand order from Uttar Pradesh GST department

New Delhi: Private sector lender, YES Bank has informed that the Bank has received an Order pertaining to FY 2021-22 from the Goods and Services Tax (“GST”) department, Uttar Pradesh on December 24, 2025 on certain issues levying a penalty of Rs. 3,30,55,942/- in addition to tax demand and applicable interest.

The details of violation consist of Demand of GST on various issues along with levy of penalty and applicable interest.

The penalty has been imposed in accordance with Section 73 of the Central Goods and Services Tax Act, 2017 (“CGST Act”) and Uttar Pradesh Goods and Services Tax Act, 2017 (“UPGST Act”), as per the exchange filing.

The Bank will take appropriate steps, including contesting the Order through appeal within prescribed timelines.

The Bank further stated that it believes that it has adequate factual and legal grounds to reasonably substantiate its position in this matter and at this juncture it does not expect any material impact on financial, operation or other activities due to the said Order.

The Bank will take necessary legal remedy against the said order.