Mumbai: has received a show-cause notice proposing a Goods and Services Tax demand of Rs 164.14 crore, including applicable interest and penalty, for the financial year 2022-23.
The private sector lender disclosed the development in a regulatory filing to the BSE and National Stock Exchange on September 3, 2026.
Notice linked to bullion business
The notice, dated September 2, was issued by the Assistant Commissioner in Delhi under Section 73 of the Goods and Services Tax Act, 2017.
According to the filing, the proposed demand relates to an alleged mismatch in input tax credit reported through GST returns filed under a separate registration obtained for the bank’s bullion business vertical.
The authorities have proposed an aggregate demand of Rs 164,13,53,222, covering the disputed tax amount, interest and penalty.
allows businesses to offset the GST paid on purchases against the tax collected on sales. Differences between returns or supporting data can consequently trigger scrutiny and demands from tax authorities.
Bank reviewing show-cause notice
RBL Bank said it is reviewing the notice and will submit its response to the concerned authority within the stipulated timeline.
Based on its preliminary assessment, the lender believes the proposed liability has arisen primarily from an erroneous comparison and reconciliation of returns and other relevant data.
The bank maintained that its position is supported by available records and reconciliations. It will present these documents while responding to the tax department’s allegations.
The lender said it does not currently expect the proceedings to materially affect either its business operations or financial position, based on the facts and assessment available at this stage.
A show-cause notice represents a proposed demand and gives the recipient an opportunity to explain its position before authorities pass a final order.
The disclosure was submitted under Regulation 30 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, 2015. RBL Bank has also published the information on its official website in accordance with applicable disclosure regulations for investors and wider public access.