ICICI Prudential Life Insurance Company Limited has received an order from the Additional Commissioner (Mumbai Central) dismissing its appeal and upholding a tax demand. The total demand, including GST and penalty, amounts to ₹37,529,796. The company stated that this order is not expected to have an adverse material impact on its financial operations. ICICI Prudential Life intends to file a further appeal against this decision.
Tax Appeal Dismissed, Demand Upheld
ICICI Prudential Life Insurance Company Limited has been informed of an order issued by the Additional Commissioner (Mumbai Central) on September 9, 2026. This order pertains to an appeal filed by the company regarding a previous demand under the Central Goods and Services Tax Act, 2017.
The appeal petition has been dismissed, thereby upholding the tax demand. The communication details the financial implications as follows:
- GST: ₹18,764,898
- Interest: Not quantified
- Penalty: ₹18,764,898
- Total Demand: ₹37,529,796
Company’s Stance and Future Action
Despite the dismissal of the appeal, ICICI Prudential Life Insurance Company Limited has stated that there is no adverse material impact anticipated on the financial operations of the Company. The company has indicated its intention to file a further appeal against this order before the appropriate appellate authority in due course.
This disclosure is made in compliance with Regulation 30(13) of the SEBI Listing Regulations.
Source: BSE
