RBL Bank Ltd received a GST demand notice exceeding ₹103 crore on August 28, 2026. The Assistant Commissioner of State Tax in Mumbai issued the notice regarding input tax credit availed during the 2020-21 financial year.
The bank intends to contest the notice and will submit a response within the stipulated timeline. Management expressed confidence in its position, citing favorable rulings on similar issues for the 2018-19 and 2019-20 financial years.
RBL Bank does not currently anticipate a material adverse impact on its financial position or operations. The bank's shares declined by more than 1% following the disclosure.