ICICI Prudential Life Insurance gets GST demand of Rs. 20.50 crore for FY19
ICICI Prudential Life Insurance Company Ltd (ICICI Pru) on Tuesday (April 9) said has received a Goods and Services Tax (GST) demand order amounting to Rs. 20.50 crore for the 2018-19 financial year.
The demand, issued under Section 73 of the GST Act, 2017, was received from the office of the State Tax Officer in Gujarat on April 9, 2024.
"Please be informed that the Company has received an order under Section 73 of Gujarat Goods and Services Tax Act, 2017 for FY2019, from the office of State Tax Officer, Gujarat, on April 9, 2024, at 3:32 p.m," ICICI Prudential said in a regulatory filing.
The notice cited a discrepancy in GST Input Tax Credit as reported on the GST portal (Form GSTR-2A) compared to what was declared in Form GSTR-9 for FY2019. As a result, the authority has levied a demand for the outstanding GST, along with applicable interest and penalties.
In response to the order, ICICI Prudential has filed an appeal before the Commissioner (Appeals) within the prescribed timelines.
