RBL Bank gets Rs 104-cr GST demand notice

New Delhi: RBL Bank on Friday said tax authorities have issued a demand notice of Rs 103.76 crore on it for alleged short payment of GST.

RBL Bank has received a show cause notice (SCN) dated August 27, 2026, under Section 74 of Maharashtra Goods and Services Tax Act, 2017 from Assistant Commissioner of State Tax-Mumbai, the bank said in a regulatory filing.

“The notice proposes a GST demand of Rs 103.76 including interest and penalty, for the financial year 2020-21, in relation to input tax credit availed by the bank under the separate GST registration obtained for its digital banking business vertical,” it said.

The bank will submit response to the SCN within the prescribed timelines, it said.

Based on its assessment, including favourable orders received from the GST authorities on identical issue for FY19 and FY20, the bank believes that it has adequate grounds to contest the matter on merits, the filing said.

Accordingly, it said, the bank does not, at this stage, reasonably expect the matter to have any material adverse impact on its operations or financial position.

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