ICICI Prudential Life Share Price in Focus; Gets Tax Demand of ₹984 Crore

ICICI Prudential Life Insurance Company Limited has received an adverse order from the Commissioner of CGST and Central Excise, Appeals-III, Mumbai. In a filing dated 19 February 2026, the company said its appeal has been dismissed, thereby upholding the earlier tax demand. 

The order was received at 9:15 a.m. on the same day, as disclosed to the stock exchanges. 

Origin of the Dispute 

The case relates to reversal of input tax credit under the Goods and Services Tax (GST) framework. The demand was originally raised under Form GST DRC-07. The period under examination covers July 2017 to July 2022, according to details provided in Annexure A of the filing. 

The initial order had been issued by the Additional Commissioner, CGST and Central Excise, Palghar Commissionerate, Maharashtra. 

Breakdown of the Demand 

The total financial implication stands at ₹9,84,12,96,592. This includes GST dues of ₹4,92,06,48,296 and a penalty of ₹4,92,06,48,296. Interest is payable as applicable under law.  

The penalty amount is equal to the tax demand. The company has stated in its disclosure that there is “no impact at this stage”. 

ICICI Prudential has said it will file a further appeal before the appropriate authority in due course. It also confirmed that the information shared is true and complete to the best of its knowledge. 

Read More: Top Undervalued Stocks in India for Feb 2026: ICICI Bank, Power Finance Corporation and More! 

ICICI Prudential Life Insurance Share Price Performance  

As of February 20, 2026, 11:10 a.m., ICICI Prudential Life Insurance Company share price was trading at ₹659.30, a 1.64% increase from the previous closing price. 

Conclusion 

With the appeal dismissed, the ₹9.84 billion demand remains in force for the period from July 2017 to July 2022. The company has indicated it will pursue the matter through the next level of appeal. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.