Commissioner (Appeals) Upholds Rs 3.75 Crore GST Demand Against ICICI Prudential Life; Further Challenge Planned:

ICICI Prudential Life Insurance Company Limited has received an order passed by the Additional Commissioner (Mumbai Central) under Section 107 of the Central Goods and Services Tax (CGST) Act, 2017, sustaining a tax demand amounting to Rs 3.75 crore (including GST of Rs 1.87 crore and penalty of Rs 1.87 crore). The company had received the said order on September 09, 2026, at 12.08 pm IST.

Initially, the company had disclosed, vide an Intimation dated February 6, 2025, that it had received an order passed by the Assistant Commissioner, Division IX, CGST & CX, Mumbai Central, Maharashtra, under Section 74 of the GST Act, 2017.

Subsequently, the company filed an appeal before the Commissioner (Appeals), challenging the aforesaid order. In this context, the company has now received the present order dismissing its appeal and upholding the demand of Rs 3.75 crore, belonging to the period between July 2017 and September 2019.

The company has clarified that the present case does not have any expected impact on its financial, operational and business activities. The company is now planning to further challenge the order by filing an appeal before a relevant appellate authority.

ICICI Prudential Life Insurance Company Limited has made the aforementioned disclosure via an Intimation dated September 10, 2026, addressed to the Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE) in pursuance of Regulation 30 and Regulation 51 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations).