ICICI Bank has received an order regarding Goods and Services Tax (GST) from the West Bengal Goods and Services Act, 2017. The demand amounts to ₹16,03,30,178 which includes tax of ₹8,67,57,468, interest of ₹6,48,96,963 and penalty of ₹86,75,747. The bank is already engaged in litigation on similar issues, and this matter is being reported due to its materiality threshold.
GST Order Received
ICICI Bank received an order on December 30, 2025, concerning Goods and Services Tax (GST) demand. The order originates from the West Bengal Goods and Services Act, 2017.
Financial Impact
The total demand related to this order amounts to ₹16,03,30,178. This figure includes the following components:
- Tax: ₹8,67,57,468
- Interest: ₹6,48,96,963
- Penalty: ₹86,75,747
Ongoing Litigation
ICICI Bank has stated that it is already involved in litigation, including writ petitions, on similar matters. While such issues have arisen in the past, the current matter is being reported because the aggregate amount involved crosses a materiality threshold.
Next Steps
The bank will take appropriate steps, including contesting the order through an appeal within the defined timelines.
Source: BSE
