ICICI Bank Receives ₹15.6 Cr GST Show Cause Notice
Ticker: IBN · Form: 6-K · Filed: Sep 25, 2025 · CIK: 1103838
Sentiment: neutral
Topics: tax-notice, regulatory, india
Related Tickers: IBN
TL;DR
ICICI Bank got hit with a ₹15.6 Cr GST notice from West Bengal tax authorities.
AI Summary
On September 22, 2025, ICICI Bank Limited received a Show Cause Notice (SCN) from the Deputy Commissioner of Revenue, West Bengal, concerning an issue amounting to ₹15,60,94,512, which includes tax of ₹8,60,94,512 under the West Bengal Goods and Services Tax Act, 2017.
Why It Matters
This notice indicates a potential tax liability for ICICI Bank, which could impact its financial performance if the demand is upheld.
Risk Assessment
Risk Level: medium — The notice represents a significant potential financial liability for the bank, requiring further investigation and potential legal challenge.
Key Numbers
- ₹15,60,94,512 — Show Cause Notice Amount (Total potential liability from the GST notice.)
- ₹8,60,94,512 — Tax Component (Specific tax amount within the notice.)
Key Players & Entities
- ICICI Bank Limited (company) — Registrant
- Deputy Commissioner of Revenue, West Bengal (company) — Issuing authority of the notice
- September 22, 2025 (date) — Date the notice was received
- ₹15,60,94,512 (dollar_amount) — Total amount of the issue in the SCN
- ₹8,60,94,512 (dollar_amount) — Tax component of the issue
- West Bengal Goods and Services Tax Act, 2017 (legislation) — Act under which the notice was issued
FAQ
What is the specific reason for the Show Cause Notice issued to ICICI Bank?
The filing states the notice was issued under section 73 of the West Bengal Goods and Services Tax Act, 2017, but does not detail the specific reason for the alleged non-compliance.
What is the total amount ICICI Bank is being asked to show cause for?
The total amount of the issue is ₹15,60,94,512.
What portion of the total amount is tax?
The tax component of the issue amounts to ₹8,60,94,512.
Which tax authority issued the notice?
The notice was issued by the Deputy Commissioner of Revenue, West Bengal.
When did ICICI Bank receive this notice?
ICICI Bank received the notice on September 22, 2025.
Filing Stats: 339 words · 1 min read · ~1 pages · Grade level 11 · Accepted 2025-09-25 16:05:00
Filing Documents
- dp234742_6k.htm (6-K) — 15KB
- image_001.jpg (GRAPHIC) — 3KB
- 0000950103-25-012203.txt ( ) — 21KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a -16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2025 Commission File Number: 001-15002 ICICI Bank Limited (Translation of registrant’s name into English) ICICI Bank Towers, Bandra-Kurla Complex Mumbai, India 400 051 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F X Form 40-F Table of Contents Items: 1. Other news OTHER NEWS under Indian Listing Regulations IBN ICICI Bank Limited (the ‘Bank’) Report on Form 6-K On September 22, 2025 at 04:02 p.m., the Bank has received a Show Cause Notice (SCN) under section 73 of West Bengal Goods and Services Tax Act, 2017 from Deputy Commissioner of Revenue, West Bengal. The aforesaid SCN includes an issue amounting to 15,60,94,512/- (Tax 8,67,57,468/- interest 6,06,61,297/- and penalty 86,75,747/-) relating to GST demand on services provided by banks to customers maintaining specified minimum balances in their accounts. While the Bank is in litigation (including writ petition) on 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. The Bank was in the process of evaluating the contents of the SCN which has resulted in a delay in the disclosure. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised. For ICICI Bank Limited Date : September 23, 2025 By: /s/ Vivek Ranjan Name : Vivek Ranjan Title : Associate Leadership Team ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icicibank.com CIN.: L65190GJ1994PLC021012 Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India