Yes Bank GST Penalty ₹79.38 Lakh Order

Yes Bank received a GST penalty order of ₹79,38,000 from Maharashtra GST department on March 25, 2026.
Penalty imposed under Section 122(1)(ii) of CGST Act and MGST Act for ITC matter pertaining to FY 2019-20 to FY 2021-22.
Bank intends to contest the order via appeal and does not expect material financial impact.