Yes Bank has gotten service tax demand order for Rs 6.42 Crore.
Lately Yes Bank said that it has received a service tax demand order, levying a penalty of more than Rs 6.42 Cr.
In a regulatory filing, the lender says “On May 02, 2024, the Bank has received an order from the Office of the Commissioner of GST & Central Excise, Maharashtra. This is confirming tax liability on a service tax issue along with interest and levy of a penalty of Rs 6,41,84,437,”
As per the statement of the Bank, the tax and interest demand is below the material threshold limit presently applicable to the bank.
