Yes Bank GST penalty has been reduced to Rs 2,32,68,479 under an appellate order received from the Tamil Nadu GST department, the lender said in a BSE filing on September 8, 2026. The bank said the order relates to various GST matters for the period from FY 2017-18 to FY 2021-22.

The Order-in-Appeal was issued by the Principal Commissioner (Appeals-II) under Section 107(11) of the CGST Act. Yes Bank said it received the order on September 7, 2026.

Penalty reduced in appeal

The appellate authority reduced the penalty from Rs 3,01,50,149, which had been imposed under an earlier Order-in-Original by the Joint Commissioner, GST department, Tamil Nadu. The earlier order had also involved tax demand and applicable interest on various GST issues.

  • Earlier penalty: Rs 3,01,50,149
  • Penalty after the appeal order: Rs 2,32,68,479
  • Authority named in the disclosure: Tamil Nadu GST department

Yes Bank said the lower penalty followed a reduction in demand in the bank’s favour through the appellate order. Tax demand and applicable interest remain associated with the matter, according to the disclosure.

Bank plans further appeal

Yes Bank said it believes it has adequate factual and legal grounds to substantiate its position in the remaining matters. At this stage, the bank said it does not expect the order to have a material impact on its financial position, operations or other activities.

The lender said it will take necessary legal remedies, including contesting the order through an appeal within the prescribed timelines. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Source: BSE corporate announcement.