ICICI Securities Gets Rs 66.70 Lakh GST Demand Order

ICICI Securities faces a tax demand of Rs 66.70 lakh from the Gujarat state GST department.

<div class="paragraphs"><p>Central GST Bhavan, Rajkot.&nbsp;(Source:&nbsp;CBIC website)</p></div>
Central GST Bhavan, Rajkot. (Source: CBIC website)

ICICI Securities on Tuesday said it has received a tax demand of about Rs 66.70 lakh from the Gujarat state GST department.

In a regulatory filing, the brokerage firm said the demand includes demand of GST worth Rs 31.78 lakh, interest of Rs 31.72 lakh and penalty of Rs 3.20 lakh.

The Gujarat GST authority has demanded about Rs 66.70 lakh GST, along with interest and penalty, for alleged excess claim of GST credit.

The company will defend the matter before the appellate authorities and file an appeal against the order before the Commissioner (Appeals).

Shares of ICICI Securities closed at Rs 719.85 apiece, down 0.54% over the previous close on BSE.