Archive · 17 Sep 2025
ICICI Bank Faces ₹49 Crore GST Demand from West Bengal
ICICI Bank has been told by the government that it owes about ₹49 crore in taxes.
This is because the government thinks the bank didn't pay the correct amount of GST on some services for customers.
The bank has received similar notices before and has even filed lawsuits.
The bank is going to review the order and plans to appeal it to try and fix the situation.
ICICI Bank received a ₹49.11 crore GST demand notice from West Bengal tax authorities.
The demand includes tax, interest, and penalty.
The notice relates to GST on services to customers with minimum balances.
The bank has received similar notices previously.
ICICI Bank plans to appeal the order.
- Who
- ICICI Bank
- What
- Received a demand order for ₹49 crore related to GST
- When
- September 15, 2025 (Order in Appeal)
- Where
- West Bengal
- Why
- Disagreement over GST on services to customers
ICICI Bank's Stance
Tax Authority's Stance
GST Payment
ICICI Bank's Stance
ICICI Bank disputes the tax demand, citing that it has been issued notices on the same issue.
Tax Authority's Stance
West Bengal tax authority asserts that the bank has underpaid GST.
- Bank
- ICICI Bank
- Notice Received
- September 15, 2025
- Demand Amount
- ₹49.11 crore
- Tax Amount
- ₹23.53 crore
- Interest
- ₹23.24 crore
- Penalty
- ₹2.35 crore
- Issued By
- Additional Commissioner of Revenue (Appeals), West Bengal
- Reason
- GST on services to minimum balance customers
