RBL Bank Receives Rs 164 Crore GST Demand Notice

Key Quantitative Figures

The show cause notice proposes a GST demand aggregating to Rs. 164,13,53,222/- (approximately Rs. 164.14 crore), including applicable interest and penalty.

Dates of Action

• Show cause notice dated: September 02, 2026
• Disclosure date: September 03, 2026
• Financial year in question: 2022-23

Parties Involved

• Issuing authority: Assistant Commissioner, Delhi
• Recipient: RBL Bank Limited
• Regulatory reference: Section 73 of Goods and Services Tax Act, 2017

Reason for Demand

The demand relates to alleged mismatch between input tax credit reported in GST returns under the separate GST registration obtained for the Bank's Bullion business vertical.

Bank's Response and Position

The Bank is reviewing the notice and will submit its response within prescribed timelines. Based on preliminary assessment, the Bank believes the proposed demand arises due to an erroneous comparison and reconciliation of returns/data. The Bank maintains that its position is supported by records and reconciliations.

Financial Impact Assessment

Based on current facts and assessment, the Bank does not expect the matter to have any material adverse impact on its operations or financial position.