ICICI Bank (ICICIBANK) — Announcement

ICICI Bank received a GST demand order of ₹49.11 crores from West Bengal authorities on September 15, 2025, comprising tax of ₹23.53 crores, interest of ₹23.24 crores, and penalty of ₹2.35 crores. The dispute centers on GST applicability to bank services for customers maintaining minimum balances. The bank has previously received similar show cause notices from other tax authorities and filed writ petitions. It will pursue further appeals within prescribed timelines.

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About ICICI Bank Limited (ICICIBANK)

Financial Services · Banks · Listed on NSE

Market Cap: ₹8,92,242 Cr P/E: 15.5

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