RBL Bank has received a GST show cause notice proposing a demand of Rs 103.76 crore, including interest and penalty, over alleged short payment of goods and services tax for FY 2020-21.
The notice, dated August 27, 2026, was issued under Section 74 of the Maharashtra Goods and Services Tax Act, 2017, by the Assistant Commissioner of State Tax, Mumbai.
According to the bank’s regulatory filing, the demand relates to input tax credit claimed under a separate GST registration for its digital banking business vertical.
“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,” the bank said.
RBL Bank said it will submit its response to the show cause notice within the prescribed timeline.
The bank also said it has assessed the matter and believes it has sufficient grounds to contest the demand on merits. Its position is supported by favourable orders received from GST authorities on an identical issue for FY19 and FY20.
Based on its current assessment, RBL Bank said it does not reasonably expect the matter to have any material adverse impact on its operations or financial position at this stage.
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