This is a regulatory disclosure submitted to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI LODR Regulations, 2015.
The disclosure concerns an update on a previously intimated matter. The Bank had earlier informed the exchanges on January 01, 2024, regarding an Order-in-Original (O-I-O) from the Joint Commissioner of the GST department, Tamil Nadu. This original order had levied a penalty of ₹3,01,50,149 along with a tax demand and applicable interest for various GST issues covering the period from Financial Year 2017-18 to Financial Year 2021-22.
The Bank has now received an Order-in-Appeal (O-I-A) from the Principal Commissioner (Appeals-II). This appellate order, received on September 07, 2026, has reduced the penalty demand. The new penalty amount is ₹2,32,68,479, down from the original ₹3,01,50,149. This reduction is due to a decrease in the overall demand in the Bank's favor as per the O-I-A. The order was passed under Section 107(11) of the CGST Act.
The nature of the action is a demand of tax on various GST matters along with the levy of penalty and applicable interest.
Regarding the financial impact, the quantifiable penalty amount is stated as ₹2,32,68,479 (Rupees Two Crores Thirty Two Lacs Sixty Eight Thousand Four Hundred and Seventy-Nine only). However, the Bank explicitly states that it believes it has adequate factual and legal grounds to reasonably substantiate its position. Consequently, at this juncture, the Bank does not expect any material impact on its financial, operational, or other activities due to this order.
The Bank has declared its intention to pursue further legal remedy against this reduced order. This includes contesting the Order-in-Appeal by filing an appeal within the prescribed timelines.
The disclosure was made by Sanjay Madhav Abhyankar, Company Secretary of YES BANK LIMITED, and includes the required Annexure A with structured details of the event. The information is also being hosted on the Bank's website www.yesbank.in as per listing regulations.