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 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 269.86 crore includes GST of Rs 119.56 crore, interest of Rs 138.34 crore, and penalty of Rs 11.95 crore.
“The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines,” it said in a BSE filing. In a separate filing, ICICI Lombard General Insurance said it has received a demand notice for alleged short payment of GST of over Rs 5.66 crore from Madhya Pradesh state GST department.