ICICI Bank Limited has made a disclosure pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 regarding a Goods and Services Tax (GST) matter.
The bank had previously disclosed on December 30, 2023 that it received an Order in Original (OIO) from the Telangana Goods and Services Tax department imposing a penalty of ₹13,55,750.
Pursuant to an appeal filed by the bank against this OIO, ICICI Bank received an Order in Appeal (OIA) on October 31, 2026 at 4:45 p.m. The OIA was issued under Section 107 of the Central Goods and Services Tax Act, 2017 by the Additional Commissioner, (ST) (Grade-I) (FAC), Telangana.
The appellate order confirmed a reduced penalty of ₹6,95,418, which represents approximately a 49% reduction from the original penalty amount of ₹13,55,750.
The bank has stated that it will file a further appeal contesting the OIA within the prescribed timelines.
The disclosure was signed by Vivek Ranjan of the Leadership Team and was addressed to both BSE Limited and the National Stock Exchange of India Limited. Copies were also sent to the New York Stock Exchange, SIX Swiss Exchange Limited, Singapore Stock Exchange, and Japan Securities Dealers Association.