ICICI Bank receives West Bengal GST show-cause notice seeking ₹ 16.76 million over minimum-balance services
Bitget2026/09/25 18:15- 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.
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