Yes Bank on Thursday said it has received a service tax demand order, which levied a penalty of over Rs 6.42 crore.
"The Bank has received an order from the Office of the Commissioner of GST & Central Excise, Maharashtra on May 02, 2024, confirming tax liability on a service tax issue along with interest and levy of a penalty of Rs 6,41,84,437," the lender said in a regulatory filing.
It said the tax and interest demand is below the material threshold limit currently applicable to the bank.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
