Yes Bank gets GST penalty order of about Rs 3.3 cr from UP tax dept for FY22

Regulatory & Legal View source PDF Explain this filing

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On the reaction day the stock moved 0.4 pts less than Nifty Midcap 150 and 0.1 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

UP GST department issued an order to Yes Bank on December 24, 2025 pertaining to FY 2021-22, levying a penalty of about Rs 3.3 crore (Rs 3,30,55,942) along with tax demand and applicable interest under Section 73 of CGST and UPGST Acts. The bank says it has strong factual and legal grounds and does not expect any material impact on its operations or finances. It will contest the order by filing an appeal within prescribed timelines.

Likely market impact

Penalty is small relative to bank size; management plans to appeal. Bank says no material impact expected on operations or finances.