BSECompany Update12h ago · 25 Sept 2026, 11:37 pm
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
ICICI Bank Ltd · 532174
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ICICI Bank receives a show cause notice from the Joint Commissioner of Revenue, West Bengal, for a GST demand of ₹ 16,75,96,536, including tax, interest, and penalty, for services provided to customers maintaining specified minimum balances in their accounts. The bank is in litigation on a similar issue and will file a reply within the prescribed timelines.
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ICICI Bank Ltd - 532174 - Disclosure Under Regulation 30 Of The SEBI (Listing Obligations
And Disclosure Requirements) Regulations, 2015
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September 25, 2026
BSE Limited National Stock Exchange of India Limited
Listing Department Listing Department
Phiroze Jeejeebhoy Towers Exchange Plaza, 5th floor
Dalal Street Plot No. C/1, G Block
Mumbai 400 001 Bandra-Kurla Complex
Bandra (East)
Mumbai 400 051
Dear Sir/Madam,
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015
Today, at 11:29 a.m., ICICI Bank Limited (the Bank) has received a show cause notice
(SCN) under Section 73 of West Bengal Goods and Services Tax Act, 2017 from
Joint Commissioner of Revenue, West Bengal. The aforesaid SCN includes a Goods and
Services Tax (GST) demand amounting to ₹ 16,75,96,536/- (Tax ₹ 9,30,73,770/- ;
interest ₹ 6,52,15,388/- and penalty ₹ 93,07,378/-) 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.
The Bank will file a reply to the said SCN within prescribed timelines.
Please take the above information on record.
Yours sincerely,
For ICICI Bank Limited
Prachiti Lalingkar
Company Secretary
Copy to:
(i) New York Stock Exchange (ii) SIX Swiss Exchange Limited
(iii) Singapore Stock Exchange (iv) Japan Securities Dealers Association