ICICI Prudential Life Insurance Company Limited Receives Order Regarding Tax Demand
ICICI Prudential Life Insurance Company Limited announced it received an order from the Deputy Commissioner of State Tax, Rajasthan, on March 25, 2026, related to FY2020. The order upholds a tax demand related to the reversal of input tax credit under the Goods and Services (GST) Law.The company will appeal the order before the Commissioner (Appeals) within the prescribed timelines.
The financial implications associated with the order are detailed below:
| Particulars | Details |
|---|---|
| GST | ₹ 58,40,562 |
| Interest | ₹ 66,64,895 |
| Penalty | ₹ 58,40,562 |
| Total | ₹ 1,83,46,019 |
The company states that there is currently no expected financial impact. A penalty of ₹ 58,40,562 has been imposed.
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