ICICI Bank confirmed on Wednesday that it has received a demand notice of ₹49.11 crore from tax authorities for alleged short payment of GST. In a regulatory filing, the bank stated that on September 15, 2025, it received an order in appeal under Section 107 of the West Bengal Goods and Services Tax Act, 2017. The order, issued by the Additional Commissioner of Revenue (Appeals), West Bengal, raised the demand comprising ₹23.52 crore in tax, ₹23.23 crore as interest, and ₹2.35 crore as penalty.
ICICI Bank Faces ₹49.11 Crore GST Demand Notice
Industry Insights Magazine delivers expert analysis, trends, and startup stories across sectors like Finance, Healthcare, Manufacturing, and Real Estate. With curated interviews, case studies, and reports, we empower professionals and entrepreneurs with actionable insights, helping them navigate change, discover opportunities, and lead confidently in today’s dynamic business landscape.