ICICI Bank receives West Bengal GST show-cause notice seeking ₹ 16.76 million over minimum-balance services

• ICICI Bank received a West Bengal GST show-cause notice seeking INR 16.76 million over services tied to specified minimum-balance accounts.
• The demand includes INR 9.31 million tax, INR 6.52 million interest, INR 0.93 million penalty under Section 73 of the West Bengal GST Act.
• The bank said it is already litigating similar past GST orders, raising the risk of further exposure on the same issue.
• It plans to file a reply within the prescribed timelines.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ICICI Bank Ltd. published the original content used to generate this news brief via Singapore Exchange Limited (SGX) (Ref. ID: ZMQE09PDAB0QTM76) on September 25, 2026, and is solely responsible for the information contained therein.