ICICI Prudential Life Insurance receives GST order with ₹11.23 Cr demand, plans appeal.
ICICI Prudential Life Insurance Company Limited has received an order under Section 73 of the Goods and Services Tax Act, 2017, from the Deputy Commissioner of State Tax, Maharashtra State. The order,...
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Why is ICICI Prudential Life Insurance Company Limited in the news today?
ICICI Prudential Life Insurance Company Limited (ICICIPRULI) is in the news due to the company has received an order with a significant financial demand and penalty, which is a negative development.
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ICICI Prudential Life Insurance receives GST order with ₹11.23 Cr demand, plans appeal.
December 24, 2025, 09:50 AM
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ICICI Prudential Life Insurance Company Limited has received an order under Section 73 of the Goods and Services Tax Act, 2017, from the Deputy Commissioner of State Tax, Maharashtra State. The order, received on December 23, 2025, at 4:30 p.m., pertains to the financial year 2022.
The company has been issued a tax demand of ₹56,552,798, along with interest of ₹50,164,159 and a penalty of ₹5,655,280, totaling ₹112,372,237 (approximately ₹11.23 crore). The demand is related to the reversal of Input Tax Credit as per GST Law.
ICICI Prudential Life Insurance Company Limited intends to file an appeal against this order before the Commissioner (Appeals) within the prescribed timelines. The company has stated that there is no expected financial implication at this stage, pending the outcome of the appeal.
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