ICICI Securities Gets Rs 66.70 Lakh GST Demand Order

New Delhi: 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 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. (Also Read: Work From Home vs Work From Office Debate: Zerodha's Nithin Kamath On Why WFH Not A Fit For All)

The company will defend the matter before the appellate authorities and file an appeal against the order before the Commissioner (Appeals). (Also Read: Yes Bank And IDFC First Bank To Impose Surcharge On Credit Card Utility Payments)

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