ICICI Bank faces ₹229 crore GST demand for minimum balance services
- ICICI Bank received a show cause notice from GST authorities regarding a ₹229.14 crore demand for minimum balance services.
- The Additional Commissioner at CGST issued the notice on September 30 in Mumbai over minimum balance fees collected by ICICI.
- According to ICICI Bank, this demand contributes to ongoing litigation over similar previous GST notices and related issues.
Source: economictimes.indiatimes.com
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