ICICI Bank to challenge West Bengal GST demand of ₹49.12 crore

Regulatory & Legal View source PDF Explain this filing

ICICIBANK · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-0.4%Reaction day

₹1422.40

prior close

₹1420.10

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.3%-0.7% vs market

Private Sector Bank peers, median of 19sector+0.4%-0.8% vs sector

On the reaction day the stock moved 0.7 pts less than Nifty 100 and 0.8 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.1

10m

+0.1

15m

+0.1

30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.4+0.3-0.7+0.4-0.8

Next day

+0.0+0.7-0.6+1.0-1.0

-1.4+0.5-1.9+1.1-2.5

-1.4+0.1-1.5+0.0-1.4

-1.8-0.1-1.8+0.5-2.3

-2.8-0.6-2.1-0.5-2.3

-4.2-2.4-1.8-2.4-1.8

15d

-3.4-0.3-3.1+2.3-5.7

+1.0+1.6-0.6+3.5-2.6

-3.0+2.8-5.9+13.1-16.1

-4.8+1.7-6.5+11.5-16.4

UpDownMarket · Nifty 100Sector · Private Sector Bank peers, median of 19Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

West Bengal tax authorities raised a ₹49.12 crore demand against ICICI Bank for GST on services provided to customers maintaining specified minimum account balances. It includes ₹23.53 crore tax, ₹23.24 crore interest and ₹2.35 crore penalty. The bank is assessing the order and plans a further appeal. The cumulative amount exceeded its reporting threshold.

Likely market impact

A final loss would reduce profit and cash flow by ₹49.12 crore, but the bank plans to contest the demand. The filing does not state any payment.