Mumbai: ICICI Prudential Life Insurance Company Ltd has received a tax demand of ₹188.22 crore under the Goods and Services Tax (GST) law from the Telangana State tax authorities, and said it plans to file an appeal against the order.
In a regulatory filing, the insurer said it received an order under Section 73 of the GST Act from the Additional Commissioner, Secunderabad GST Commissionerate, on December 19, 2025. The order relates to the financial year 2022 and pertains to the non-reversal of input tax credit (ITC) as prescribed under GST regulations.
The total demand comprises ₹171.11 crore towards GST and a penalty of ₹17.11 crore, taking the overall exposure to ₹188.22 crore. No interest has been levied as part of the order, the company disclosed.
ICICI Prudential Life said it will file an appeal against the order before the appropriate appellate authority within the prescribed timelines. The company did not indicate any immediate operational impact, noting that the matter is subject to adjudication.
GST disputes related to input tax credit have been a recurring issue for financial services companies, given the complex treatment of exempt and taxable supplies under the indirect tax regime. Several insurers and banks have contested similar demands through appellate forums since the rollout of GST.
ICICI Prudential Life Insurance is one of India’s largest private life insurers, with a diversified product portfolio across protection, savings and retirement segments.