RBL Bank Limited has, on April 5, 2024, received an order dated April 5, 2024 from the Office of Deputy Commissioner of State Tax Mumbai, Department of Goods and Services Tax, levying an amount of INR 32,54,71,250 (including interest and penalty) under Section 73 read with Section 50 & Section 122 of the Maharashtra Goods and services Tax act, 2017 for alleged short payment of GST liability and excess availment of GST input credit. Based on the Bank's assessment, an appeal will be filed, and the Bank is hopeful of a favourable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Bank.
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- RBL Bank Limited Receives an Order from Office of Deputy Commissioner of State Tax Mumbai, Department of Goods and Services Tax for Alleged Short Payment of GST Liability and Excess Availment of GST Input Credit