ICICI Prudential to appeal over 188m rupee tax demand

ICICI Prudential Life Insurance Company announced on December 20, 2025, that it received an order from the additional commissioner, Telangana State, on December 19, 2025. The order, issued under Section 73 of the Goods and Service Act, 2017, pertains to a tax demand for the financial year 2022, upholding a demand raised under Form GST DRC 07.

The total financial implication for the company is 188,217,756 rupees, comprising GST of 171,107,052 rupees and a penalty of 17,110,704 rupees, with no interest. The demand relates to the non-reversal of Input Tax Credit (ITC) as per GST law.

The company stated its intention to file an appeal against the order before the commissioner (appeals) within the prescribed timelines. The disclosure aligns with Regulation 30 and Regulation 51 of the SEBI Listing Regulations, 2015.