ICICI Bank , one of India's leading private sector banks, is facing escalating GST demands from multiple tax authorities across different states. The bank has now received GST orders totaling ₹253.93 crore from Mumbai and West Bengal authorities for similar issues related to services provided to customers maintaining specified minimum balances.

Latest West Bengal GST Order

On December 30, 2025 at 06:01 p.m., ICICI Bank received an Order under Section 73 of the West Bengal Goods and Services Act, 2017 from the Deputy Commissioner of Revenue, West Bengal. This order follows the Show Cause Notice disclosed by the bank on September 23, 2025 from the same authority.

Mumbai GST Order Details

Earlier, the bank received an Order under Section 73 of the Maharashtra Goods and Services Tax Act, 2017 on December 17, 2025 from the Additional Commissioner of CGST and CEx., Mumbai East Commissionerate. This order raised a total GST demand of ₹237.90 crore.

Combined GST Exposure

The bank now faces combined GST demands from both authorities totaling approximately ₹253.93 crore, all relating to the same underlying issue of services provided to customers maintaining specified minimum balances in their accounts.

Bank's Legal Strategy

ICICI Bank has indicated it will contest both orders through appropriate legal channels. The bank is already in litigation, including writ petitions, on similar issues raised in past orders and Show Cause Notices. For the latest West Bengal order, the bank will take appropriate steps including contesting through an appeal within prescribed timelines.

Regulatory Compliance and Disclosure

Both matters required disclosure to stock exchanges under Regulation 30 of SEBI regulations due to the aggregate amounts crossing materiality thresholds. The bank made disclosures on December 18, 2025 for the Mumbai order and December 31, 2025 for the West Bengal order, demonstrating compliance with transparency requirements while preparing legal challenges.

ICICI Bank , one of India's leading private sector banks, recently executed significant block trades on the National Stock Exchange (NSE), demonstrating continued market activity in the banking sector.

Block Trade Details

Two notable block trades were reported:

1. A transaction involving 704,229 shares of ICICI Bank, which were traded at a price of Rs. 1,365.70 per share. This substantial transaction resulted in a total value of Rs. 96.18 crores.

2. Another block trade involving 1,020,029 shares at a price of Rs. 1,365.90 per share. The total transaction value for this trade amounted to Rs. 139.33 crores.

Combined, these block trades represent a total value of over Rs. 235.51 crores.

Market Implications

Block trades of this magnitude are often closely watched by market participants as they can provide insights into institutional investor sentiment or significant changes in ownership. While the specific parties involved in these transactions have not been disclosed, such trades can sometimes indicate strategic moves by large investors or institutions.

ICICI Bank's Market Position

ICICI Bank, known for its strong presence in retail and corporate banking, continues to be an active player in the Indian stock market. These block trades underscore the liquidity and investor interest in the bank's shares.

Investor Considerations

While these block trades represent notable transactions, investors and market analysts will likely be keen to observe any potential impact on ICICI Bank's stock price and trading volumes in the coming days. It's important to note that single block trades, while significant, should be considered alongside other market factors and the bank's overall financial performance when evaluating investment decisions.

Investors are advised to conduct their own research and consider their financial goals before making any investment decisions based on market activities such as these block trades.