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ICICI Bank Faces Rs 229 Crore GST Demand for Customer Services
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News18•01-10-2026, 18:00
ICICI Bank Faces Rs 229 Crore GST Demand for Customer Services
- •ICICI Bank received a show cause notice from GST authorities for a tax demand of over Rs 229 crore.
- •The demand is related to services provided to customers who maintain specified minimum balances in their accounts.
- •The notice was issued under Section 73 of the Maharashtra Goods and Services Tax Act, 2017.
- •The total demand includes GST amounting to Rs 229,14,35,396, along with interest and penalty.
Key Questions Answered
ICICI Bank received a show cause notice from GST authorities for a tax demand amounting to over Rs 229 crore, specifically Rs 229,14,35,396, along with interest and penalty.
The show cause notice was issued to ICICI Bank under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, by the Additional Commissioner, CGST.
The tax demand pertains to services provided by ICICI Bank to customers maintaining specified minimum balances in their accounts.
