By Ctionsicici Bank

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ICICI Bank on Tuesday said tax authorities have slapped a demand notice of Rs 216.27 crore on it for alleged short payment of GST. In a regulatory filing, ICICI Bank said, on September 29, 2025, it received a Show Cause Notice (SCN) under section 73 of the Maharashtra Goods and Services Tax Act, 2017 from Additional Commissioner of CGST, Mumbai East Commissionerate raising GST demand amounting to Rs 216.27 crore on services provided by the bank to customers maintaining specified minimum balances in their accounts. While the bank is in litigation (including writ petition) on a similar issue raised in orders/SCNs in the past, since the aggregate/cumulative amount involved in the above crosses the materiality threshold, this matter is being reported, it said.Add as a Reliable and Trusted News Source Add Now!
The bank will file a reply to the said SCN within the prescribed timelines, it added.(You can now subscribe to our Economic Times WhatsApp channel)

Read More News onicici bankICICI BankGST demand noticetax authoritiesShow Cause NoticeMaharashtra Goods and Services Tax ActCGSTMumbai East Commissionerate

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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onicici bankICICI BankGST demand noticetax authoritiesShow Cause NoticeMaharashtra Goods and Services Tax ActCGSTMumbai East Commissionerate(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless