Informative

ICICI Prudential and HDFC Life get GST notices

Update / Judgement Date

29 Jun 2024

Source

Economic Times

Author

Team — WCP Legal Desk

Reading Time

1 min read

GST

ICICI Prudential Life Insurance has received a GST notice demanding Rs. 365 crore, including interest and penalty, for the fiscal years 2017-18 to 2022-23, alleging unpaid GST on amounts recovered from insurance agents. HDFC Life Insurance has also received a GST notice for Rs. 132 crore, citing wrongful GST deductions from agent commissions. \r

Both companies plan to appeal the notices within the prescribed timelines.

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ICICI Prudential and HDFC Life get GST notices

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