ICICI Bank Faces GST Demand Notice
Ticker: IBN · Form: 6-K · Filed: Oct 2, 2025 · CIK: 1103838
Sentiment: neutral
Topics: tax, regulatory, legal
TL;DR
ICICI Bank got hit with a ₹21 GST demand notice from Mumbai tax authorities.
AI Summary
On September 29, 2025, ICICI Bank Limited received a Show Cause Notice from the Additional Commissioner of CGST and CEx., Mumbai East Commissionerate. The notice raises a Goods and Services Tax (GST) demand amounting to ₹21.00.
Why It Matters
This notice indicates a potential financial liability for ICICI Bank related to GST, which could impact its profitability if the demand is upheld.
Risk Assessment
Risk Level: medium — A GST demand notice represents a potential financial obligation that could impact the company's earnings and cash flow.
Key Numbers
- ₹21.00 — GST Demand (Amount specified in the Show Cause Notice)
Key Players & Entities
- ICICI Bank Limited (company) — Registrant and recipient of the notice
- Additional Commissioner of CGST and CEx., Mumbai East Commissionerate (company) — Issuing authority of the notice
- September 29, 2025 (date) — Date the notice was received
- ₹21.00 (dollar_amount) — Amount of the GST demand
- Maharashtra Goods and Services Tax Act, 2017 (legal_document) — Legislation under which the notice was issued
FAQ
What is the specific reason for the GST demand against ICICI Bank?
The provided text states that the notice was issued under section 73 of the Maharashtra Goods and Services Tax Act, 2017, but does not detail the specific reason for the demand.
What is the total amount of the GST demand?
The GST demand amounts to ₹21.00.
Which tax authority issued the Show Cause Notice?
The notice was issued by the Additional Commissioner of CGST and CEx., Mumbai East Commissionerate.
When did ICICI Bank receive this notice?
ICICI Bank received the notice on September 29, 2025.
What is the legal basis for this notice?
The notice is issued under section 73 of the Maharashtra Goods and Services Tax Act, 2017.
Filing Stats: 287 words · 1 min read · ~1 pages · Grade level 13.3 · Accepted 2025-10-01 18:43:37
Filing Documents
- dp235256_6k.htm (6-K) — 13KB
- image_001.jpg (GRAPHIC) — 3KB
- 0000950103-25-012683.txt ( ) — 19KB
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 IBN ICICI Bank Limited (the ‘Bank’) Report on Form 6-K On September 29, 2025 at 05:15 p.m., ICICI Bank Limited (the Bank) has received a Show Cause Notice (SCN) under section 73 of Maharashtra Goods and Services Tax Act, 2017 from Additional Commissioner of CGST and CEx., Mumbai East Commissionerate raising GST demand amounting to 216,27,31,316/- (Tax 216,27,31,316/- along with interest and penalty as applicable) 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 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. 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 30, 2025 By: /s/ Vivek Ranjan Name: Vivek Ranjan Title: Associate Leadership Team