On November 22, 2024, ICICI Bank Limited has received Orders in appeal from Bihar and Maharashtra GST departments for a demand of INR 2,509,361/- (including tax, interest and penalty) and INR 3,782,57,486/- (including tax and equivalent penalty) respectively. The Bank was in the process of evaluating contents of the Orders which has resulted in a delay in this disclosure. Name of the authority: Nature and details of the action(s) taken, initiated or order(s) passed: Order in Appeal under Section 107 of Central Goods and Services Tax Act, 2017 (CGST Act, 2017); Details of the violation(s)/contravention(s) committed or alleged to be committed: Availment of Input Tax Credit in contravention of Section 16(2) of CGST Act, 2017; Impact on financial, operation or other activities of the Bank, quantifiable in monetary terms to the extent possible: GST demand of INR 1,074,697/- Interest of INR 1,276,210/- Penalty of INR 158,454/-; Name of the authority: Maharashtra GST Department; Nature and details of the action(s) taken, initiated or order(s) passed: Order in Appeal 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: Carried forward ineligible CENVAT credit under Tran-1 return in contravention of section 140 of CGST Act, 2017.; Impact on financial, operation or other activities of the Bank, quantifiable in monetary terms to the extent possible: GST demand of INR 189,128,743/-.