ICICI Bank Receives GST Order in Appeal from Maharashtra, Confirms Compliance
Mumbai, February 22, 2026: ICICI Bank Limited informed the BSE and NSE today that it has received an Order in Appeal (OIA) from the Maharashtra Goods and Services Tax (GST) Department regarding a previously disclosed tax demand.
The original order, issued on January 4, 2025, had specified a tax demand of ₹50,38,09,792, along with applicable penalties and interest. Following an appeal filed by the Bank, the OIA received on February 21, 2026, under Section 107 of the Central GST Act, 2017, maintains the same tax demand and equivalent penalties and interest.
ICICI Bank stated that it will take appropriate steps, including filing further appeals within prescribed timelines, to contest the OIA.
The disclosure has also been shared with international exchanges including NYSE, SIX Swiss Exchange, Singapore Stock Exchange, and Japan Securities Dealers Association, ensuring transparency and compliance with regulatory norms.
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Key Highlights
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OIA maintains the original tax demand of ₹50.38 crore plus penalty and interest.
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ICICI Bank to pursue legal recourse within timelines.
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Disclosure made to domestic and international stock exchanges.