ICICI Bank Limited has received an Order in Appeal (OIA) confirming a penalty of ₹6,95,418/-. This follows an earlier disclosure regarding an Order in Original (OIO) from the Telangana Goods and Services Tax department for a penalty of ₹13,55,750/-. The bank intends to file a further appeal against this confirmed penalty within the stipulated timelines.
Tax Penalty Confirmed Following Appeal
ICICI Bank Limited (the Bank) has announced receiving an Order in Appeal (OIA) from the Additional Commissioner, (ST) (Grade-l) (FAC), Telangana. This order, dated October 31, 2026, at 4:45 p.m., was issued under Section 107 of the Central Goods and Services Tax Act, 2017. The OIA confirms a penalty of ₹6,95,418/-, superseding an earlier Order in Original (OIO).
Background and Next Steps
Previously, on December 30, 2023, the Bank had disclosed receiving an OIO from the Telangana Goods and Services Tax department which imposed a penalty of ₹13,55,750/-. Following the filing of an appeal against this initial order, the Bank has now received the OIA confirming a reduced penalty. The Bank has stated its intention to file another appeal to contest the Order in Appeal (OIA) within the legally prescribed timelines.
Source: BSE
