Maharashtra’s GST authorities on Wednesday initiated search operations at three offices of ICICI Bank, the second-largest private lender in India. The bank disclosed this development in a regulatory filing later that evening, noting its full cooperation in providing the requested data.
“Please note that on December 4, 2024, GST authorities initiated search at three offices of ICICI Bank. The proceedings are on-going and the bank is cooperating in providing data as per request placed,” ICICI Bank said in an exchange filing.
As of now, the bank has not provided additional details regarding the nature of the investigation. Similarly, the state GST department has not released any official statements. The searches are reportedly being carried out under Section 67(1) and (2) of the Maharashtra GST Act, 2017.
Read more at: Business Standard
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