ICICI Prudential Life Insurance has received an order from the Deputy Commissioner of State Tax, Maharashtra, regarding the Goods and Service Act, 2017, for FY2022. The order, received on December 23, 2025, relates to Section 73 and involves a reversal of input tax credit. The company intends to file an appeal against the order.
Tax Order Received
ICICI Prudential Life Insurance has received an order from the Deputy Commissioner of State Tax, Maharashtra, on December 23, 2025, concerning the Goods and Service Act, 2017.
Details of the Order
The order, pertaining to FY2022, involves a reversal of input tax credit. The tax demand raised under Form GST DRC 07 totals ₹112,372,237/-. This includes:
- GST: ₹56,552,798/-
- Interest: ₹50,164,159/-
- Penalty: ₹5,655,280/-
Company Response
ICICI Prudential intends to file an appeal against this order with the appropriate authority.
Source: BSE
