ICICI Prudential Life gets Rs 270 crore GST notice – Times of India

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NEW DELHI: ICICI Prudential Life Insurance on Wednesday said tax authorities have slapped a demand notice of Rs 270 crore on it for alleged short payment of GST for 2017-18.
The Maharashtra Goods and Service Tax (GST) authority has demanded GST along with applicable interest and penalty for 2017-18 fiscal for reversal of input tax credit; difference in GST liability filed in GSTR-1 and GSTR-9; mismatch in ITC claimed in GSTR-3B and GSTR-2A; and interest on GST payment on proposal deposit.
The total demand of Rs 269.9 crore includes GST of Rs 119.6 crore, interest of Rs 138.3 crore, and penalty of Rs 12 crore. “The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines,” ICICI Prudential Life Insurance Company said in a BSE filing



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