Income Tax 2 October 2026
ICICI Bank Faces Show‑Cause Notice Over Rs 229 Cr GST Demand
ICICI Bank has received a show‑cause notice from the Goods and Services Tax (GST) authorities demanding payment of a Rs 229 crore tax liability. The notice, issued Thursday, requires the bank to justify the shortfall and could lead to penalties if unresolved. The bank confirmed receipt and said it is reviewing the claim with its tax team.
ICICI Bank Show‑Cause Notice
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- ICICI Bank was served a show‑cause notice by GST authorities for a Rs 229 crore demand.
- The notice asks the bank to explain the tax shortfall and warns of possible penalties.
- The bank acknowledged receipt and is reviewing the issue with its tax team.
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