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What the notice says
The notice is dated September 29, 2026, and was issued by the Assistant Commissioner of State Tax, Mumbai, under Section 73 of the Maharashtra Goods and Services Tax Act, 2017. RBL Bank disclosed it to the BSE and NSE on September 30 under Regulation 30 of the SEBI Listing Regulations. The bank’s filing gives the total proposed amount but does not separate tax, interest and penalty. RBL Bank’s September 30, 2026 exchange filing
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The filing identifies the issue as ITC availed under the separate GST registration for the Digital Banking business vertical. It does not explain the specific transactions or the tax authority’s detailed reasoning, so the precise basis for the proposed demand cannot be established from the disclosure.
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A show-cause notice proposes action and gives the recipient an opportunity to respond; it is not itself a final adjudication. RBL Bank said it would respond within the prescribed timelines. As of the latest status established here, no reply or adjudication of the FY 2022-23 notice has been disclosed.
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The bank says GST authorities issued favorable orders on what it characterizes as an identical issue for FY 2018-19 and FY 2019-20. It cites those orders as grounds to contest the current matter on its merits. The September 30 filing does not provide the earlier orders’ reasoning, and they do not establish the outcome of the FY 2022-23 proceeding.
How this differs from RBL Bank’s earlier GST case
The FY 2022-23 notice is separate from an earlier proceeding concerning FY 2019-20. The earlier notice was issued under Section 74, while the current notice cites Section 73. The bank reported in March 2026 that the earlier demand had been withdrawn in full; that outcome did not dispose of the new notice.
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| Proceeding | Proposed amount | Statutory reference | Status disclosed by RBL Bank |
|---|---|---|---|
| FY 2022-23, notice dated September 29, 2026 | ₹1,73,08,68,535, including interest and penalty | Section 73 of the Maharashtra GST Act | Notice disclosed September 30, 2026; response planned. No later outcome established in the available disclosures. Source |
| FY 2019-20, notice disclosed October 1, 2025 | ₹92,00,23,536, including interest and penalty | Section 74 of the Maharashtra GST Act | RBL Bank said on March 24, 2026 that the entire demand was withdrawn and the proceedings concluded. Notice disclosure; withdrawal disclosure |
Does the notice mean a financial hit for the bank?
RBL Bank said it does not presently expect the matter to have a material adverse impact on its financial position, operations or profitability. That is the bank’s assessment, based on its current view and the earlier favorable orders—not a final determination of the FY 2022-23 case. The filing does not state that the proposed amount has been paid or finally confirmed.
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