Yes Bank GST appeal reduces penalty to Rs 23.27 crore; further appeal planned

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Price reactionminutes from the announcement price · days from the prior close

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₹22.41

prior close

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announcement price

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Nifty Midcap 150market+0.1%+0.4% vs market

Private Sector Bank peers, median of 19sector-0.8%+1.3% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty Midcap 150 and 1.3 pts more 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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UpDownMarket · Nifty Midcap 150Sector · Private Sector Bank peers, median of 19Pending

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AI summary

Yes Bank said an appeal order from the Tamil Nadu GST authority reduced the penalty demand to Rs 23.27 crore from Rs 30.15 crore for GST issues covering FY2017-18 to FY2021-22. The order also retains a tax demand and applicable interest. The bank plans further legal action and expects no material financial or operational impact.

Likely market impact

The penalty fell by Rs 6.88 crore, providing partial relief, but tax, interest and further legal action remain.