ICICI Bank (IBN) faces ₹ 16.03 crore West Bengal GST demand order

Rhea-AI Filing Summary

ICICI Bank Limited has received a tax demand order from the Deputy Commissioner of Revenue, West Bengal under Section 73 of the West Bengal Goods and Services Tax Act, 2017. The order raises a total Goods and Services Tax (GST) demand of ₹ 16,03,30,178, comprising tax of ₹ 8,67,57,468, interest of ₹ 6,48,96,963 and penalty of ₹ 86,75,747. The demand relates to GST on services provided to customers maintaining specified minimum balances in their accounts, an issue that has also appeared in earlier show cause notices and orders for which the bank is already in litigation, including a writ petition. As the aggregate amount involved now crosses the bank’s materiality threshold, this development is being disclosed, and the bank plans to contest the order through an appeal within the prescribed timelines.

Positive

• None.

Negative

• Material GST demand raised: West Bengal tax authority issued an order under Section 73 of the West Bengal GST Act, 2017 raising a cumulative GST demand of ₹ 16,03,30,178 (tax ₹ 8,67,57,468, interest ₹ 6,48,96,963, penalty ₹ 86,75,747) on services to customers maintaining specified minimum balances, which the bank deems material and is contesting through appeal.

Insights

Banking regulation and tax risk analyst

ICICI Bank faces a material GST demand it plans to appeal.

ICICI Bank Limited has received a GST demand order from the West Bengal tax authority for ₹ 16,03,30,178. This includes tax of ₹ 8,67,57,468, interest of ₹ 6,48,96,963 and penalty of ₹ 86,75,747 linked to services provided to customers maintaining specified minimum balances. The disclosure notes that the cumulative amount tied to this issue has crossed the bank’s internal materiality threshold.

The bank indicates that similar GST questions have arisen in prior show cause notices and orders, which are already under litigation, including a writ petition. This suggests the matter is part of an ongoing interpretive dispute rather than a one-off assessment, but the text does not describe any resolution to date. Financial impact will ultimately depend on outcomes of these legal proceedings and any potential future orders on the same subject.

The bank states it will take appropriate steps and contest the order through an appeal within the prescribed timelines. Until courts or appellate authorities issue decisions, the final liability remains undetermined. Subsequent disclosures in periodic reports or further announcements would be the place where any changes to provisions or confirmed liabilities are likely to be presented.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a -16 OR

15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2025

Commission File Number: 001-15002

ICICI Bank Limited
(Translation of registrant’s name into English)

ICICI Bank Towers,
Bandra-Kurla Complex
Mumbai, India 400 051
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.

Form 20-F   X  Form 40-F      

Table of Contents

Items:

1. Other news

OTHER NEWS

Subject: Disclosure under Indian Listing Regulations

IBN

ICICI Bank Limited (the ‘Bank’) Report on Form 6-K

The Bank has made the below announcement with the Indian Stock Exchanges

This is further to the disclosure made by ICICI Bank Limited (the Bank) dated September 23, 2025 regarding the receipt of a Show Cause Notice (SCN) from the Deputy Commissioner of Revenue, West Bengal which included an issue relating to Goods and Services Tax (GST) demand on services provided by the Bank to customers maintaining specified minimum balances in their accounts.

On December 30, 2025 at 06:01 p.m., the Bank has received an Order under Section 73 of the West Bengal Goods and Services Act, 2017 from the above authority raising a GST demand amounting to ₹ 16,03,30,178/-(tax ₹ 8,67,57,468/-, interest ₹ 6,48,96,963/- and penalty ₹ 86,75,747/-) for the same subject matter.

While the Bank is in litigation (including writ petition) on a similar issue raised in orders/SCNs in the past, since the aggregate/cumulative amount involved in the above crosses the materiality threshold, this matter is being reported.

The Bank will take appropriate steps, including contesting the Order through an appeal within the prescribed timelines.

Please take the above information on record.

ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icici.bank.in CIN.: L65190GJ1994PLC021012 Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

		For ICICI Bank Limited
Date	: December 31, 2025	By:		/s/ Vivek Ranjan
			Name:	Vivek Ranjan
			Title:	Associate Leadership Team

ICICI Bank Limited ICICI Bank Towers Bandra-Kurla Complex Mumbai 400 051, India. Tel.: 022- 4008 8900 Email:companysecretary@icicibank.com Website www.icici.bank.in CIN.: L65190GJ1994PLC021012 Regd. Office: ICICI Bank Tower, Near Chakli Circle, Old Padra Road, Vadodara 390007. India

FAQ

What did ICICI Bank Limited (IBN) disclose in this 6-K?

ICICI Bank Limited disclosed that it has received an Order under Section 73 of the West Bengal Goods and Services Tax Act, 2017 from the Deputy Commissioner of Revenue, West Bengal, raising a GST demand related to services provided to customers maintaining specified minimum balances in their accounts.

How much is the GST demand raised against ICICI Bank Limited (IBN)?

The order raises a total GST demand of ₹ 16,03,30,178 for ICICI Bank Limited, comprising tax of ₹ 8,67,57,468, interest of ₹ 6,48,96,963 and penalty of ₹ 86,75,747 on the same subject matter.

Why is ICICI Bank Limited (IBN) reporting this GST matter as material?

ICICI Bank Limited states that it is already in litigation, including a writ petition, on similar GST issues raised in past orders and show cause notices. The bank explains that the aggregate or cumulative amount involved in this subject now crosses its materiality threshold, so it is being reported.

How does ICICI Bank Limited (IBN) plan to respond to the GST demand order?

ICICI Bank Limited states that it will take appropriate steps, including contesting the order through an appeal within the prescribed timelines under the applicable law.

What specific services are involved in the GST dispute for ICICI Bank Limited (IBN)?

The GST dispute concerns tax on services provided by ICICI Bank Limited to customers maintaining specified minimum balances in their accounts, which is the same subject matter referenced in the earlier show cause notice dated September 23, 2025.

Is ICICI Bank Limited (IBN) already in litigation on similar GST issues?

Yes. ICICI Bank Limited notes that it is in litigation, including a writ petition, on a similar issue raised in prior orders and show cause notices concerning GST on services to customers with specified minimum balance accounts.