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Informist, Thursday, Sept. 3, 2026

 

--RBL Bank gets show-cause notice for GST demand of INR 1.64 bln 

 

NEW DELHI – RBL Bank Thursday said that it has received a show-cause notice for a goods and services tax demand of INR 1.64 billion, including interest and penalty, from the assistant commissioner, Delhi, in connection with a mismatch between input tax credit reported in its GST returns in 2022-23 (Apr-Mar) under the separate GST registration obtained for the bank's bullion business vertical. 

 

The bank is reviewing the show cause notice and will submit its response to the concerned authority within the prescribed timeline, RBL Bank informed exchanges.  

 

The bank said its preliminary assessment shows that the proposed demand primarily arises from an erroneous comparison and reconciliation of returns and data. The bank said its position is supported by records and reconciliations. Based on the current facts and its assessment, it does not expect the matter to have any material adverse impact on its operations or financial position, it said. 

 

RBL Bank had reported a net profit of INR 2.54 billion for the June quarter on a total income of INR 48 billion. Thursday, the bank's shares ended at INR 408.10 on the National Stock Exchange, up 4.8% from Tuesday.  End

 

Reported by Priyasmita Dutta

Edited by Saji George Titus

 

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