Tax & Penalty1 Nov 2026, 10:00 am
ICICI Bank faces ₹6.95 Lakh penalty in GST appeal
AI Summary
ICICI Bank Limited has received an Order in Appeal (OIA) from the Telangana Goods and Services Tax department, confirming a penalty of ₹6,95,418/-. This order follows an earlier Order in Original (OIO) from December 30, 2023, which had imposed a penalty of ₹13,55,750/-. The bank intends to file a further appeal against the OIA within the stipulated timelines to contest the confirmed penalty.
Key Highlights
- GST appeal order confirms penalty of ₹6,95,418/-.
- Original penalty imposed was ₹13,55,750/-.
- Bank will file a further appeal against the order.
- This is a tax and penalty related disclosure.
Price Impact
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