ICICI Bank has received an order for a Goods and Services Tax (GST) demand amounting to ₹237.90 crore. The order, received on December 17, 2025, includes a tax component of ₹216.27 crore and a penalty of ₹21.63 crore, along with applicable interest. The bank is currently contesting similar issues and will take appropriate steps, including appeals.
GST Demand Order
ICICI Bank announced that it received a Goods and Services Tax (GST) demand order on December 17, 2025. The total demand amounts to ₹237,90,04,448/-.
Breakdown of the Demand
The GST demand consists of the following components:
- Tax: ₹216,27,31,316/-
- Penalty: ₹21,62,73,132/-
- Applicable Interest
This order was issued under Section 73 of the Maharashtra Goods and Services Tax (GST) Act, 2017.
Bank’s Response
The bank stated that it is already in litigation regarding similar issues. ICICI Bank will take appropriate steps, including contesting the order through a writ petition/appeal.
Source: BSE
