New Delhi: ICICI Prudential Life Insurance Company Limited on Thursday said the Joint Commissioner of State Tax (Appellate Authority), Maharashtra, has partially allowed its appeal in a Goods and Services Tax (GST) matter pertaining to FY2018, while upholding part of the tax demand.
In a regulatory filing, the insurer said it received the order on February 18, 2026. The dispute arises from an earlier order passed under Section 73 of the Maharashtra Goods and Service Tax Act, 2017, by the Deputy Commissioner of State Tax.
As per the disclosure, the total demand involved in the matter stands at ₹216.44 crore, comprising GST of ₹83.22 crore, interest of ₹124.89 crore and penalty of ₹8.32 crore. The penalty component alone amounts to ₹8.32 crore.
The company said the demand relates to reversal of input tax credit (ITC) under GST law, differences in GST liability as per GSTR-1 and GSTR-9 filings, and mismatch in ITC claimed between GSTR-3B and GSTR-2A returns.
While the appellate authority has granted partial relief, it has also upheld part of the tax demand. ICICI Prudential Life clarified that there is “no impact at this stage” and that it intends to file a further appeal before the appropriate authority.
Tax disputes relating to input tax credit mismatches and return reconciliations have been common across sectors in the initial years of GST implementation, with several corporates challenging tax demands arising from technical mismatches and reporting differences.
The latest development adds to a series of GST litigations being pursued by large financial services companies as authorities continue scrutiny of historical filings.