ICICI Bank(US:IBN) The Economic Timesยท2025-10-01 02:50Core Viewpoint - ICICI Bank has received a Show Cause Notice (SCN) demanding GST of Rs 216.27 crore related to services provided for maintaining specified minimum balances in customer accounts [1][5]. Group 1: Show Cause Notice Details - The SCN was issued on September 29, 2025, by the Additional Commissioner of CGST and CEx, Mumbai East Commissionerate [1][5]. - The notice includes a demand for GST amounting to Rs 216,27,31,316, which encompasses tax, interest, and penalties where applicable [1][5]. - ICICI Bank is currently involved in litigation regarding similar issues raised in previous orders and SCNs, but this matter is disclosed due to the amount exceeding the materiality threshold [1][4]. Group 2: Market Reaction - On the day of the announcement, shares of ICICI Bank closed flat at Rs 1,348.05 on the BSE [5].