ICICI Bank Faces Rs 49.11 Crore GST Demand

ICICI Bank disclosed on Wednesday that it received a demand notice from tax authorities for Rs 49.11 crore, alleging short payment of GST.

The bank noted in a regulatory filing that the order was received on September 15, 2025, under Section 107 of the West Bengal Goods and Services Tax Act, 2017. It came from the Additional Commissioner of Revenue (Appeals), West Bengal, stipulating a GST demand on services provided to customers with specified minimum balances.

ICICI Bank plans to contest the order with a further appeal. Previously, the bank had received notices on the same issue, leading it to file multiple petitions. The bank is currently reviewing the order and attributed a delay in disclosure to this ongoing evaluation.

(With inputs from agencies.)