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ICICI Prudential gets GST demand notice of โ‚น429 crore from Maharashtra tax authority | Mint

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ICICI Prudential gets GST demand notice of  โ‚น429 crore from Maharashtra tax authority | Mint
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ICICI Prudential Life Insurance has received a tax demand notice amounting to โ‚น429.05 crore from the Deputy Commissioner of State Tax in Maharashtra. The notice includes a Goods and Services Tax (GST) demand of โ‚น208.02 crore, along with interest and penalties. The company plans to challenge the notice with the Commissioner (Appeals) within the specified time frame. This development comes as GST authorities have issued around 20,000 notices to several corporate entities across India, amounting to โ‚น80,000 crore. The tax demand in ICICI Pru Life's case is due to alleged infractions related to input tax credit and discrepancies in GST returns.

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