On January 3, 2025 ICICI Bank Limited has received an Order from Maharashtra Goods and Services Tax Department raising GST demand of INR 261,207,438/- and equivalent amount of penalty and interest as applicable. The Bank was in the process of evaluating contents of the Order which resulted in a delay in the disclosure. The Bank will take appropriate steps, including contesting the order through an appeal within prescribed timelines.

Nature and details of the action(s) taken or order(s) passed- Order in Original under section 74 of Central Goods and Services Tax Act, 2017 (CGST Act, 2017) Details of the violation(s)/contravention(s) committed or alleged to be committed: Levy of tax under section 5 of IGST Act, 2017. Impact on financial, operation or other activities of the Bank, quantifiable in monetary terms to the extent possible GST demand of INR 261,207,438/-. Penalty of INR 261,207,438/- Interest - as applicable.