New Delhi. The Income Tax Department has sent a notice of Rs 238 crore to ICICI Bank for alleged short GST payment. The bank gave this information on Thursday. The bank informed the stock exchange that it has received an order from the concerned authority under Section 73 of the Maharashtra Goods and Services Tax (GST) Act, 2017, in which a total GST demand of Rs 237,90,04,448 has been made. This includes Rs 216,27,31,316 as tax and Rs 21,62,73,132 as penalty. This also includes interest.
The bank said that it is fighting a legal battle on the orders and show cause notices issued in similar cases earlier also. However, due to the high amount involved in this case, its information has been made public. ICICI Bank said that it will challenge this order through writ petition or appeal within the stipulated time limit.
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