ICICI Bank Receives ₹50.38 Crore GST Demand; Plans to Appeal Order

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ICICI Bank Faces ₹50.38 Crore GST Demand, Vows to Challenge Order

ICICI Bank | India's second-largest private lender is also up for the third-day running, contributing to the Nifty 50 moves today on the upside. The stock's 6% surge in the last three trading sessions has taken its market capitalization back above the mark of ₹10 lakh crore. The stock is contributing to around 20 points to the Nifty upmove.

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CNBC TV18•22-02-2026, 14:08

ICICI Bank Faces ₹50.38 Crore GST Demand, Vows to Challenge Order

•ICICI Bank received an Order in Appeal (OIA) from Maharashtra GST Department for a tax demand of ₹50.38 crore.
•The demand includes the principal amount, an equivalent penalty, and applicable interest.
•This OIA follows an earlier Order in Original (OIO) for the same amount, against which the bank had filed an appeal.
•ICICI Bank plans to challenge the OIA through a further appeal within the prescribed timelines.
•The bank's disclosure aligns with SEBI regulations, but no immediate impact on operations or profitability is indicated.

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