ICICI Bank Receives GST Demand Order of ₹50.38 Crore in Appeal
ICICI Bank received an appeal order from the Maharashtra GST Department on February 21, 2026, raising a tax demand of ₹50.38 crore, plus penalty and interest. This follows a prior order for the same amount. The bank plans to contest this through a further appeal.
The tax demand is significant but it is a contingent liability. The bank intends to contest it, and the final impact is yet to be determined.
The company has received a tax demand order in appeal, which is a negative financial event.
ICICI Bank Limited has received an Order in Appeal (OIA) from the Maharashtra GST Department on February 21, 2026, concerning a tax demand of ₹50,38,09,792/- (approximately ₹50.38 crore), along with an equivalent amount for penalty and interest. This order follows an earlier order in original (OIO) received on January 4, 2025, for the same tax demand.
The bank had previously filed an appeal against the OIO. ICICI Bank intends to contest the OIA by filing a further appeal within the stipulated timelines.
This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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