RBL Bank receives ₹173.08cr GST show-cause notice from Maharashtra
Business
RBL Bank just got a hefty Goods and Services Tax (GST) show-cause notice proposing a GST demand over ₹173.08 crore from Maharashtra tax authorities.
They're being questioned about input tax credit claims for 2022-23 tied to their digital banking.
The bank says it's preparing its response and plans to address the issue directly.
RBL unfazed, stock closes up 0.63%
Despite the notice, RBL Bank isn't too worried. They point out they've handled similar cases successfully in the past and don't expect this to hurt them financially.
Investors seem unfazed too: the stock actually ticked up 0.63% on Wednesday, closing at ₹404.55 on the BSE.