ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED ICICI Prudential Life Insurance Company Limited received an order under Section 73 of Delhi Goods and Services Tax Act, 2017 from the office of Sales tax officer Class II, Delhi, on April 29, 2024. Name of the Authority; Sales Tax officer Class II, Delhi. Details of the violation(s)/contravention(s) committed or alleged to be committed; 1) Tax on outward supplies under declared on reconciliation of data in GSTR-09 2) Excess input tax credit (ITC) claimed on account of non-reconciliation of information 3) Reversal of Input tax credit as per GST Law.
Nature and details of the action(s) taken, initiated or order(s) passed; The Authority has demanded GST along with applicable interest and penalty for FY2019. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible; GST; INR 8,779,974, Interest; INR; 8,205,066, Penalty; INR 877,997, Total, INR; 17,863,037.
