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Yes Bank Evaded ₹330 mn Tax, Says GST Authority
October 01, 2018
Private sector Yes Bank has allegedly evaded Goods and Services Tax (GST) worth ₹330 million. The anti-evasion wing of the GST department in Mumbai said that the lender has evaded Central GST (CGST) dues amounting to roughly ₹330 million through a “cut and pay” scheme. However, the bank in its defence said that it consulted with tax experts earlier who said that its interpretation of the law was correct and in compliance with the current GST regulations.
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