ICICI Prudential Life Insurance receives GST order with ₹11.23 Cr demand, plans appeal.
ICICI Prudential Life Insurance received a GST order with a total demand of ₹11.23 crore, including ₹5.65 crore in penalty for FY2022. The company plans to appeal the order before the Commissioner (Appeals).
The order involves a substantial financial demand and penalty, but the company plans to appeal, and it is stated that there is no immediate financial implication. The impact is thus considered medium.
The company has received an order with a significant financial demand and penalty, which is a negative development.
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.
What to do with a filing like this
ICICI Prudential Life Insurance Company Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. 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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See the model portfoliosA plain-language summary of a public exchange filing by ICICI Prudential Life Insurance Company Limited. Read the original for the full detail.