ICICI Bank gets tax demand of INR 3.84 bln from Maharashtra GST dept
This story was originally published at 16:46 IST on 19 March 2026
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--ICICI Bank gets tax demand of INR 3.84 bln from Maharashtra GST dept
NEW DELHI – ICICI Bank Ltd. has received a tax demand order of INR 3.84 billion from the Maharashtra goods and services tax department Wednesday. The GST department has also demanded "an equivalent amount of penalty and interest as applicable on services provided by the Bank to customers maintaining specified minimum balances in their accounts," the bank said in an exchange filing Thursday.
The bank said it will take appropriate steps, including contesting the order through a writ petition within "prescribed timelines".
Thursday, shares of ICICI Bank closed at INR 1,250.10 on the National Stock Exchange, down over 3%. For the December quarter, the bank had reported a net profit of INR 113.18 billion and a total income of INR 493.34 billion. End
Reported by Shweta
Edited by Tanima Banerjee
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