{"url":"https://newsforagent.com/news/2026-11-01/icici-bank-gst-penalty-reduced-telangana","markdown_url":"https://newsforagent.com/news/2026-11-01/icici-bank-gst-penalty-reduced-telangana.md","title":"ICICI Bank GST Penalty Cut to ₹6.95 Lakh in Telangana Appeal","headline":"ICICI Bank's Telangana GST Penalty Reduced to ₹6.95 Lakh; Bank Plans Further Appeal","description":"ICICI Bank's Telangana GST penalty was cut to ₹6,95,418 from ₹13,55,750 after an October 31, 2026 appeal order, and the bank will contest it further.","section":"Legal & Disputes","published_at":"2026-11-01T05:10:44+00:00","modified_at":"2026-11-01T05:10:44+00:00","author":"News Desk","key_takeaways":["ICICI Bank received an appellate order on October 31, 2026, confirming a GST penalty of ₹6,95,418 from Telangana's GST department.","The confirmed penalty is lower than the original ₹13,55,750 penalty disclosed in December 2023.","ICICI Bank said it will file a further appeal contesting the order within the prescribed timelines."],"companies":[{"name":"ICICI Bank","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00007ce/icici-bank","website":"https://www.icicibank.com"}],"source":{"publisher":"ScanX","title":"ICICI Bank GST penalty reduced to ₹6.95 lakh in Telangana appeal","url":"https://scanx.trade/stock-market-news/companies/icici-bank-gst-penalty-reduced-6-95-lakh-telangana-appeal/55051900"},"other_sources":[],"tags":["Legal & Disputes","ICICI Bank"],"body_markdown":"[ICICI Bank](https://akta.pro/company-profiles/00007ce/icici-bank) received an appellate order on October 31, 2026, confirming a Goods and Services Tax penalty of ₹6,95,418 from Telangana's GST department, lower than the ₹13,55,750 originally disclosed in December 2023. [ScanX](https://scanx.trade/stock-market-news/companies/icici-bank-gst-penalty-reduced-6-95-lakh-telangana-appeal/55051900) reported that the bank plans to file a further appeal.\n\n## How the Telangana Appeal Order Was Issued\n\nThe order in appeal was issued by the Additional Commissioner, (ST) (Grade-I) (FAC), Telangana, under Section 107 of the Central Goods and Services Tax Act, 2017. ICICI Bank had previously disclosed an Order in Original regarding the ₹13,55,750 penalty, and the appellate authority confirmed a reduced liability after the bank appealed. The confirmed penalty stands at less than half of the original assessment.\n\nICICI Bank stated that it will file a further appeal contesting the Order in Appeal within the prescribed timelines. The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited, with copies sent to international exchanges including the New York Stock Exchange and SIX Swiss Exchange Limited. The regulatory disclosure was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.\n\n## ICICI Bank's Scale Behind the Penalty\n\nAccording to akta.pro [company records](https://akta.pro/company-data), ICICI Bank is India's second-largest private sector bank, founded in 1994, offering retail, NRI, SME, and corporate banking across 15+ countries. The same records show a Q4FY26 standalone net profit of ₹13,702 crore, up 8.4% year-on-year, with total loans up 15.8% and a gross NPA ratio of 1.40%. The bank's market cap stood at ₹9,61,297.77 crore in June 2026.\n\n## Earlier ICICI Bank Disclosures This Month\n\nOn October 23, 2026, ICRA reaffirmed ICICI Bank's issuer rating at AAA with a stable outlook, while CARE Ratings reaffirmed Tier II Bonds at AAA and Tier I Bonds at AA+, both with stable outlooks, The future of trading reported. ICICI Bank submitted an investor presentation on October 17, 2026, for its earnings call covering results through September 30, 2026, the same outlet reported. On October 22, 2026, The Economic Times reported that ICICI Bank will revise savings account cash transaction charges from December 1, 2026, raising the fee above the complimentary limit.\n\n## What Comes Next for ICICI Bank\n\nICICI Bank will revise savings account cash transaction charges from December 1, 2026, according to The Economic Times. The bank plans to file a further appeal against the Telangana GST order within the prescribed timelines.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}