According to reports from The Hindu BusinessLine and The Economic Times, RBL Bank has received a show cause notice from Maharashtra Goods and Services Tax authorities proposing a GST demand of ₹173.08 crore, including interest and penalty, for the financial year 2022-23. The notice, dated September 29, 2026, was issued under Section 73 of the Maharashtra GST Act, 2017, by the Assistant Commissioner of State Tax, Mumbai. The matter specifically relates to input tax credit claimed by the bank under a separate GST registration for its digital banking business. As per RBL Bank Limited, the intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
As reported by The Hindu BusinessLine and The Economic Times, RBL Bank stated it will submit its response to the notice within the prescribed timelines. The bank emphasized that it has received favourable orders from GST authorities on an identical issue for FY2018-19 and FY2019-20. Based on these orders and its current assessment, RBL Bank believes it has adequate grounds to contest the matter on merits. The bank does not currently expect the issue to have any material adverse impact on its financial position, operations or profitability. The bank believes it has adequate grounds to contest the matter on merits, leveraging these prior rulings as precedent for the current dispute regarding the separate registration for its digital vertical.
According to The Hindu BusinessLine and The Economic Times, RBL Bank shares closed at ₹404.55, up 0.63% over its previous close on the BSE on September 30, 2026. The positive market reaction suggests investor confidence in the bank's ability to handle the GST dispute effectively, with shares trading higher despite the significant demand notice.
As reported by Essential Business Intelligence, RBL Bank is a private sector bank with a legacy dating back to 1943, headquartered in Mumbai. The bank serves over 15 million customers through 628 branches and a network of business correspondent branches across 28 states and Union Territories as of June 30, 2026. The bank is listed on the NSE and BSE under the ticker RBLBANK and offers banking products across retail, commercial, SME, corporate, agriculture and rural banking, digital payments, wealth management and other segments.
