Date: July 2, 2026
Regulatory & Legal Update
ICICI Prudential Life Insurance Company Limited has provided an update regarding GST proceedings for FY2018. The company received a common appeal order from the Additional Commissioner of State Tax, Appellate Authority, Vijayawada on December 2, 2025.
The appeal order was partially in the company's favor and partially upheld the tax demand. The matter relates to excess Input Tax Credit claimed in GSTR-3B versus GSTR-2A for the financial year 2018.
Financial Implications
The total financial impact amounts to ₹1,65,449, broken down as follows:
- GST: ₹76,550
- Interest: ₹78,899
- Penalty: ₹10,000
Company Action
The company has taken action by paying the entire tax liability of ₹1,65,449 without admitting to the allegations. This payment resolves the matter completely.
Compliance Status
No other aberrations or non-compliances were identified beyond the specific input tax credit discrepancy mentioned in the order.
Correspondence Details
The disclosure is made in compliance with Regulation 30(13) of SEBI Listing Regulations and follows previous communications dated December 22, 2023 and December 3, 2025 regarding orders passed under Section 73 of Andhra Pradesh Goods and Service Tax Act, 2017 by Deputy Commissioner of State Tax, Andhra Pradesh State.