New Delhi, March 19 ICICI Bank said on Thursday that tax authorities have issued a demand notice of ₹768.6 crore against it for alleged short payment of GST.
On March 18, 2026, ICICI Bank received an order under Section 74 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner of CGST and Central Excise, Mumbai East Commissionerate, demanding a Goods and Services Tax (GST) of ₹384,33,53,972 and an equivalent amount of penalty and interest for services provided by the bank to customers maintaining specified minimum balances in their accounts, the bank said in a regulatory filing.
"While the bank is currently involved in litigation (including a writ petition) on a similar issue raised in past orders/Show Cause Notices (SCNs), since the total amount involved exceeds the materiality threshold, this matter is being reported," it added.
The bank will take appropriate steps, including contesting the order through a writ petition/appeal within the prescribed timelines, it added.