Announced Thu, 2 Jul · 20:16 IST
Update on Andhra Pradesh GST appeal order for FY2018
Regulatory & Legal View source PDF
ICICIPRULI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.3%1-day move
₹496.05
prior close
₹496.95
base price
After-mkt
timing
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+0.3+0.4+0.3-0.3-2.3-1.6-3.1-0.8+3.0+1.6+1.0———
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AI summary
ICICI Prudential Life Insurance has received an appeal order from the Andhra Pradesh GST Appellate Authority for FY2018, related to excess input tax credit in GSTR-3B versus GSTR-2A. The order was partly in the company's favour and partly upheld the tax demand. Total financial impact: GST of 76,550 rupees, interest of 78,899 rupees, and penalty of 10,000 rupees, totalling 1,65,449 rupees. The company is paying the amount without admitting the allegations.
Likely market impact
Very small financial impact, immaterial for the company. Mixed appeal outcome with no major concern for shareholders.