ICICI Bank Faces ₹238 Cr GST Demand from Maharashtra Tax Authorities

• ICICI Bank received a GST demand notice of nearly ₹238 crore from Maharashtra tax authorities.
• The demand, issued under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, alleges short payment of GST.
• It includes ₹216.27 crore in tax and ₹21.62 crore as penalty, relating to previously disputed issues.
• The bank plans to contest the demand through legal steps, including filing a writ petition or appeal.
• No immediate financial impact is expected, but the amount exceeds the mandatory disclosure threshold.

Why It Matters: ICICI Bank to contest ₹238 Cr GST demand from Maharashtra authorities over alleged short payment.