ICICI Prudential gets Rs. 492cr GST notice ICICI Prudential Life Insurance said that it has received a show-cause & demand notice from the directorate general of GST intelligence for Rs 492 crore.

During the inquiry, ICICI Prudential had already deposited an amount of Rs 190 crore without accepting any liability.

“The issue revolves around the industry-wide matter of input tax credit,” it said in an exchange filing.

In recent months, the GST department has been pursuing recovery of tax on certain payments made by life insurers to their distributors, which the tax authorities said were disguised commission