ICICI Bank receives West Bengal GST notice seeking ₹16.76 million over minimum-balance services
IBN•ICICI Bank received a West Bengal GST show-cause notice seeking ₹16.76 million over services tied to specified minimum-balance accounts. The demand includes ₹9.31 million in tax, ₹6.52 million in interest and ₹0.93 million in penalties.
1. Notice and response
The notice was issued under Section 73 of the West Bengal GST Act. ICICI Bank said it is already litigating similar past GST orders and plans to file a reply within the prescribed timelines.
