ICICI Prudential Life Receives ₹166.6 Crore GST Order

Date: June 5, 2026

Regulatory Compliance Disclosure

Tax Order Details

• The company received an order under Section 73 of Goods and Service Act, 2017 from Deputy Commissioner of State Tax, Raipur, Chhattisgarh
• Date of receipt: June 4, 2026 at 4:13 pm
• Period applicable: Financial Year 2024
• Order type: Upholding tax demand raised under Form GST DRC 07

Reasons for Order

1. Mismatch in Input Tax Credit (ITC) claimed in GSTR-3B versus GSTR-2A

2. Reversal of Input tax credit as per GST Law

3. Mismatch in GST liability

Financial Implications

• GST demand: ₹106,127,843
• Interest: ₹39,266,389
• Penalty: ₹21,166,697
• Total financial impact: ₹166,560,929

Company Response

• The company shall file an appeal against the order before the Commissioner (Appeals)
• Appeal will be filed within prescribed timelines
• No immediate financial impact at this stage due to pending appeal

Distribution

• Addressed to BSE Limited and National Stock Exchange of India Limited
• Copy to: Axis Trustee Services Limited