ICICI Bank Faces ₹768.6 Crore GST Demand; Says Will Contest Through Legal Routes
News by Aliceblue News Desk
20 Mar 2026
Introduction
Leading private sector bank received GST demand notice of ₹384 crore with penalty and interest from Mumbai authority and plans to challenge the order legally.
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Share price movement of ICICI Bank
On March 20, 2026, ICICI Bank Ltd opened at ₹1,255.90, up 0.41% from its previous close of ₹1,250.80. It reached a high of ₹1,274.10 (1.86%) and a low of ₹1,254.50. By 4:00 PM, it traded at ₹1,269.48, a 1.49% increase, with a market cap of ₹9,02,554.55 crore.
ICICI Bank GST Demand Notice
ICICI Bank Limited received an order under Section 74 of the Maharashtra GST Act from Mumbai East Commissionerate on March 18, 2026 raising a GST demand.
The order includes a demand of ₹384.33 crore along with an equivalent amount of penalty and applicable interest related to services provided to customers maintaining minimum account balances.
ICICI Bank stated it is already in litigation on similar matters and will take appropriate steps including filing a writ petition to contest the order within prescribed timelines.
Stock performance of ICICI Bank for Period of 1 week, 6 months, and 1 year
ICICI Bank Ltd delivered a 1-week return of -0.37%, a 6-month return of -10.8%, and a 1-year return of -5.42%.
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Shareholding pattern of ICICI Bank
| Particulars | Dec 2025 | Sep 2025 | Jun 2025 |
| Promoter | 0% | 0% | 0% |
| FII | 43.90% | 45.60% | 46.80% |
| DII | 47.00% | 45.30% | 44.20% |
| Public | 9.10% | 9.10% | 9.10% |
About ICICI Bank
ICICI Bank Ltd (NSE: ICICIBANK) is India’s second-largest private sector bank offering diversified financial services across retail, SME, and corporate segments with extensive branch network presence.
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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
FAQs
Q: Why is ICICI Bank share price rising today?
A: ICICI Bank share price is rising after disclosure of GST order, with investors reacting to legal steps planned to contest demand.
Q: What is ICICI Bank main business focus?
A: ICICI Bank main business focuses on providing diversified financial services including retail, SME, and corporate banking through extensive network and subsidiaries.
Q: What are the 52-week high and low of ICICI Bank stock?
A: ICICI Bank stock has a 52-week high of ₹1,494.10 and a 52-week low of ₹1,240.15.
News Author
Aliceblue News Desk
