Tax & Penalty2 Jul 2026, 08:20 pm
ICICI Prudential Life Insurance fined ₹1.65 Lakhs for GST non-compliance
AI Summary
ICICI Prudential Life Insurance Company Limited has received an appeal order concerning GST for FY2018. The order partially upholds a tax demand due to excess Input Tax Credit in GSTR-3B vis-à-vis GSTR-2A. The total financial implication includes GST of ₹76,550, interest of ₹78,899, and a penalty of ₹10,000, totaling ₹1,65,449. The company has paid the liability without admitting allegations.
Key Highlights
- GST appeal order received for FY2018.
- Total financial implication ₹1,65,449.
- Includes GST, interest, and penalty.
- Payment made without admitting allegations.
Price Impact
More from ICICIPRULI