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The total demand of Rs 269.86 crore includes GST of Rs 119.56 crore, interest of Rs 138.34 crore, and penalty of Rs 11.95 crore.
“The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines,” ICICI Prudential Life Insurance Company said in a BSE filing.
Shares of ICICI Prudential settled at Rs 526.55 apiece, up 0.56 per cent over previous close on the BSE.
In a separate filing, ICICI Lombard General Insurance said it has received a demand notice for alleged short payment of GST of over Rs 5.66 crore from Madhya Pradesh state GST department.
In a regulatory filing, ICICI Lombard General Insurance said the GST demand of Rs 5,66,02,264 and penalty of Rs 56,60,226 takes the total demand to Rs 6.22 crore. Also, an interest under Section 50 of the GST Act would be levied. “The company will be filing an appeal against the said order,” ICICI Lombard said. The GST demand has been raised on the grounds of computation of input tax credit eligible to the company and alleged undischarged tax liability due to differences between returns filed by the company, it added.
Shares of ICICI Lombard closed at Rs 1,411.25 apiece, down 0.35 per cent on the BSE.
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