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RBL Bank Receives ₹103.76 Cr GST Demand Notice for FY21

RBL Bank logoRBL Bank
Sig3.05Sen-2.75Env0.00Soc0.00Gov-1.60

RBL Bank said tax authorities issued a show cause notice under Section 74 of the Maharashtra GST Act seeking a GST demand of Rs 103.76 crore for FY20-21, including interest and penalty. The notice cites alleged short payment linked to input tax credit claimed under a separate GST registration for its digital banking vertical. The bank will respond in time and says it has grounds to contest, citing favorable orders for FY19 and FY20.

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