Tax & Penalty5 Jun 2026, 03:51 pm
ICICI Prudential Life fined ₹16.6 Cr by Chhattisgarh Tax Dept
AI Summary
ICICI Prudential Life Insurance Company Ltd has received an order from the Deputy Commissioner of State Tax, Chhattisgarh, for FY2024, demanding ₹166,560,929. This includes ₹106,127,843 in GST, ₹39,266,389 in interest, and ₹21,166,697 in penalty. The demand arises from mismatches in Input Tax Credit (ITC) claims and GST liability. The company plans to appeal the order before the Commissioner (Appeals) within the prescribed timelines. At this stage, no financial impact is expected.
Key Highlights
- Received tax demand order of ₹16.6 Cr from Chhattisgarh State Tax Dept.
- Demand includes GST, interest, and penalty for FY2024.
- Company to appeal the order before the Commissioner (Appeals).
- No immediate financial impact expected at this stage.
Price Impact
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