ICICI Prudential Life Insurance Company Limited has informed the Exchange about Action(s) initiated or orders passed
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ICICI Prudential Life Insurance has received an order under Section 74 of the GST Act, 2017 from the Deputy Commissioner of State Tax, Rajasthan, on March 25, 2026. The order upholds a demand for reversal of input tax credit for FY2020. The total financial implication, if the order is upheld, is about ₹1.83 crore — comprising GST of ₹58.4 lakh, interest of ₹66.6 lakh, and a penalty of ₹58.4 lakh. The company has stated there is 'no impact at this stage' and plans to file an appeal before the Commissioner (Appeals) within the prescribed timeline.
The amount involved is very small relative to the size of the company, and the company is contesting the order through appeal. Short-term impact on the stock is expected to be negligible, though investors should track the outcome of the appeal for any adverse ruling.