ICICI Prudential Life Insurance has received an update regarding its tax appeal for FY2018. An appeal with a demand of ₹3,54,969 was fully set aside in the company’s favor. Another appeal with a demand of ₹6,24,835 was partially allowed, with ₹4,59,386 dismissed and ₹1,65,449 upheld. The company intends to file an appeal against the remaining demand.
Tax Appeal Outcome
ICICI Prudential Life Insurance has received a common appeal order on December 2, 2025, concerning its appeal against an order passed under Section 73 of the Andhra Pradesh Goods and Service Tax Act, 2017 for the financial year FY2018.
Details of the Order
The order involves two appeals:
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One appeal, initially having a total demand of ₹3,54,969, has been completely set aside, with an order passed in favor of the company.
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The second appeal, which initially had a total demand of ₹6,24,835, was partially allowed in favor of the company. As a result, ₹4,59,386 of the demand has been dismissed, while ₹1,65,449 has been upheld.
Financial Impact
The upheld demand includes the following components:
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GST: ₹76,550
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Interest: ₹78,899
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Penalty: ₹10,000
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Total: ₹1,65,449
The company anticipates no significant impact at this stage.
Next Steps
ICICI Prudential Life Insurance intends to file an appeal against the remaining demand of ₹1,65,449 before the appropriate authority.
Source: BSE