ICICI Bank Share Price In Focus Amid GST Demand Order of Gets ₹49.11 Crore

ICICI Bank share price is in focus on Wednesday, September 17, after the company disclosed receiving a GST demand order of ₹49.11 crore. The development has drawn investor attention as markets evaluate its potential impact.

ICICI Bank: GST Demand of ₹49.11 Crore 

On September 15, 2025, ICICI Bank received an order in appeal from the Additional Commissioner of Revenue (Appeals), West Bengal. The order raised a demand amounting to ₹49.11 crore, which includes tax of ₹23.53 crore, interest of ₹23.24 crore and penalty of ₹2.35 crore.

Issue Relates To Services On Minimum Balance Accounts

The demand pertains to GST levied on services provided to customers maintaining specified minimum balances in their accounts. In the past, the bank has received show cause notices and orders from different tax authorities on the same issue, some of which were challenged through writ petitions.

ICICI Bank To Contest The Order Through Further Appeal

ICICI Bank has clarified that it will take appropriate steps to contest the order through a further appeal within the prescribed timelines. The disclosure was made after the bank evaluated the contents of the order.

Disclosure Made As Amount Crosses Materiality Threshold

While similar matters have been contested earlier, the aggregate amount involved in this case exceeded the bank’s materiality threshold. Hence, ICICI Bank reported the development to the stock exchanges, including NSE and BSE, along with international bourses such as NYSE, SIX Swiss Exchange, Singapore Stock Exchange and Japan Securities Dealers Association.

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Conclusion

ICICI Bank’s share price remains on the radar as the market reacts to the GST demand order. While the bank has confirmed its intent to appeal, investors will keep a close watch on the outcome of this legal process and its potential financial implications.

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