Home / Business and Economy / Yes Bank GST Penalty Reduced: Partial Relief Granted
Yes Bank GST Penalty Reduced: Partial Relief Granted
22 Jun
Summary
- Yes Bank's GST penalty reduced to Rs 3.02 crore.
- The UP GST department issued an appellate order on June 20, 2026.
- Partial relief follows an initial Rs 3.31 crore penalty.
Yes Bank experienced a dip in its share price on Monday, reaching an intraday low of Rs 25.05. This occurred following the disclosure of an Order-in-Appeal from the Uttar Pradesh GST department, dated June 20, 2026. The order confirmed a reduced penalty of Rs 3.02 crore related to the financial year 2021-22.
This appellate ruling, issued by the Additional Commissioner, upheld a tax demand and interest under Section 73 of the Central Goods and Services Tax Act, 2017. It represents partial relief for the bank, as it drops a portion of the initial demand. Previously, on December 25, 2025, the bank had informed exchanges of a higher penalty of Rs 3.31 crore imposed by the Joint Commissioner.
