ICICI Prudential Life Insurance receives GST order for FY2020, plans appeal.
ICICI Prudential Life Insurance received a GST order for FY2020 from Rajasthan authorities on March 25, 2026. The order involves a total demand of ₹1.83 crore, including penalty and interest. The company plans to appeal the order.
The financial implication of ₹1.83 crore is significant. Although the company plans to appeal and states no immediate impact, the potential financial liability and the nature of the order warrant a medium impact assessment.
The company has received an order from tax authorities with a financial implication of over ₹1.83 crore, including penalty and interest, which is a negative development.
ICICI Prudential Life Insurance Company Limited has received an order under Section 74 of the Goods and Services Act, 2017, from the Deputy Commissioner of State Tax, Rajasthan, on March 25, 2026, at 5:32 p.m. The order pertains to the financial year 2020 and relates to the reversal of Input Tax Credit as per GST Law.
The total financial implication includes GST of ₹58,40,562/-, interest of ₹66,64,895/-, and a penalty of ₹58,40,562/-, amounting to a total of ₹1,83,46,019/-. The company has stated that there is no immediate financial impact at this stage.
ICICI Prudential Life Insurance Company Limited intends to file an appeal against this order before the Commissioner (Appeals) within the prescribed timelines. Further disclosures as required by SEBI Listing Regulations are enclosed as Annexure A.
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ICICI Prudential Life Insurance Company Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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