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ICICI Prudential Life Insurance Co. Ltd. ( (IN:ICICIPRULI) ) just unveiled an announcement.
ICICI Prudential Life Insurance Company has disclosed that it received an order under Section 74 of the Goods and Services Tax Act, 2017 from the Additional Commissioner of CGST and Central Excise, Maharashtra, relating to financial year 2019. The order upholds a GST demand involving reversal of input tax credit, comprising tax of ₹5.74 crore and an equivalent penalty, taking the total disputed amount to about ₹11.48 crore, though the company has indicated there is no financial impact at this stage. ICICI Prudential plans to challenge the order by filing an appeal with the Commissioner (Appeals) within the prescribed timelines, signaling that the matter remains under dispute and its ultimate financial implications will depend on the outcome of the appellate process.
More about ICICI Prudential Life Insurance Co. Ltd.
ICICI Prudential Life Insurance Company Limited is a leading Indian life insurer, offering a range of life insurance and protection products to retail and institutional customers across the country. The company operates in the financial services and insurance sector, with a focus on long-term savings, retirement, and protection solutions distributed through multiple channels, including bancassurance and agency networks.
Average Trading Volume: 147,462
Technical Sentiment Signal: Strong Buy
Current Market Cap: 943.8B INR
Find detailed analytics on ICICIPRULI stock on TipRanks’ Stock Analysis page.