Yes Bank Limited — Important, 04-01-2025: General Updates

The bank has received a penalty order from the Tamil Nadu GST department concerning FY 2017-18, amounting to ₹72.33 lakh (Cr 0.72) along with a tax demand and applicable interest. This order is issued under Section 74 of the Central Goods and Services Tax Act and the Tamil Nadu Goods and Services Tax Act. While the bank acknowledges the penalty, it asserts that it has sufficient grounds to challenge the order and does not anticipate any significant impact on its financial or operational activities as it plans to pursue legal recourse. Watch closely for further developments on this matter.