Date: October 1, 2026
Regulatory & Legal Disclosure
ICICI Bank Limited received a show cause notice (SCN) under Section 73 of Maharashtra Goods and Services Tax Act, 2017 from Additional Commissioner, CGST and C. Ex, Division-IV, Mumbai East Commissionerate on September 30, 2026 at 05:57 p.m.
The notice raises a GST demand amounting to ₹229,14,35,396 (Two Hundred Twenty Nine Crore Fourteen Lakh Thirty Five Thousand Three Hundred Ninety Six Rupees) along with applicable interest and penalty.
The demand relates to services provided by the Bank to customers maintaining specified minimum balances in their accounts.
The Bank disclosed that it is already in litigation (including writ petition) regarding similar issues raised in past orders/SCNs.
The aggregate/cumulative amount involved crosses the materiality threshold for disclosure under SEBI Listing Regulations.
The Bank will file a reply to the SCN within prescribed timelines.
Recipients of Disclosure
This disclosure was made to:
- BSE Limited
- National Stock Exchange of India Limited
- New York Stock Exchange
- SIX Swiss Exchange Limited
- Singapore Stock Exchange
- Japan Securities Dealers Association
No material disclosures under the following sections:
- KMP / Board / Auditor Changes
- Dividend Declaration or Non-Declaration
- Board Meeting Outcomes
- Financial Results
- Auditor's Report
- Disinvestment / Strategic Actions
- Media Release / Investor Communication