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flag ICICI Bank faces a ₹49.11 crore GST demand from Indian tax authorities over alleged underpayment on account services, which it will contest.

flag ICICI Bank has received a Rs 49.11 crore ($6.5 million) GST demand notice from Indian tax authorities, alleging underpayment on services tied to customer accounts with minimum balance requirements. flag The notice, dated September 15, 2025, follows prior show cause notices and similar demands, including a ₹50.38 crore claim from Maharashtra and a ₹49 crore claim from West Bengal, all related to GST compliance on banking services. flag The bank plans to contest the order through legal appeals, reflecting broader regulatory challenges in India's financial sector.

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