Yes Bank Ltd. has received a demand notice of Rs 63 crore for the period July 2017- June 2018 from the Maharashtra's Goods and Services Tax (GST) department, according to an exchange filing on Saturday.
''The total demand including penalty is Rs. 63,26,98,888 in relation to the GST matter,'' the filing stated, adding that the bank will take appropriate steps, including contesting the order through appeal within the prescribed timelines. Notably, the violation involved a GST demand along with levy of penalty and applicable interest.
Additionally, it said that the Bank believes that it has adequate factual and legal grounds to reasonably substantiate its position in this matter and at this juncture it "does not expect any material impact on financial, operation or other activities due to the said order."
''The Bank will take necessary legal remedy against the said order including filing an appeal,'' it added.
Yes Bank Q4FY26 Recap
Yes Bank reported a jump of 44% in standalone net profit to Rs 1,068.4 crore, compared to Rs 738 crore in the corresponding period last year. Higher loan growth and declining provisions helped the surge in net profit during the March quarter of FY26.
The leading private lender's performance was helped by broad-based growth across advances and deposits and lower cost of deposits, according to Vinay Tonse, Yes Bank's newly appointed chief executive. Loans grew 10.7% year-on-year during the quarter, accelerating from about 6.2% growth in the previous quarter, helped by a pickup in corporate lending, while deposits rose 12.1%.
The bank's net interest income, or the difference between interest earned on advances and paid on deposits, rose 15.9% to Rs 2,638 crore in the fourth quarter of FY26, compared to Rs 2,276 crore in the fourth quarter of FY25.
Yes Bank Share Price
Shares ended 2.3% higher at Rs 23.30 apiece on the NSE on Friday, compared to a 0.21% decline in the Nifty index.
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