ICICI Lombard General Insurance Confirms GST Demand After Tax Appeal Order
ICICI Lombard General Insurance Company Limited has received an order from the Additional Commissioner, State Tax (Appeal), Large Taxpayers Unit regarding a long-pending Goods and Services Tax (GST) demand. The order confirms the full amount of the original demand, interest, and penalty related to tax matters spanning April 2019 to March 2020.The Company confirmed that the order, received on June 24, 2026, finalized the GST demand initiated by the Office of the Special Commissioner, Large Taxpayers' Unit. The original matter concerned a GST demand related to the computation of input tax credit eligible to the company.
The order specifically confirms the following financial components:
| Financial Head | Amount (₹) |
|---|---|
| GST Demand | 10,35,666/- |
| Interest | 8,87,282/- |
| Penalty | 1,03,566/- |
The total demand as confirmed by the appeal order is currently recognized within the company's contingent liabilities.
According to details provided in the tax communication, the original GST demand originated from an intimation received previously and involved a matter concerning Section 73 of the Central Goods and Services Tax Act, 2017. The Order from the Additional Commissioner, State Tax (Appeal), Large Taxpayers Unit confirmed this amount.
The company has stated that it intends to pursue an appeal or evaluate all other legal options against the said order, including filing a writ petition.
Key details pertaining to the tax communication are summarized in the table below:
| Particulars | Details |
|---|---|
| Date of Receipt | June 24, 2026 |
| Issuing Authority | Additional Commissioner, State Tax (Appeal), Large Taxpayers Unit |
| Applicable Period | April 2019 to March 2020 |
| Order Summary | The order confirmed the GST demand on computation of input tax credit eligible to the Company. |
ICICI Lombard General Insurance Company Limited noted that there is no financial impact at this stage, as the total demand, including interest and penalty amounts, has already been accounted for as a contingent liability.
ICICIGI Stock Price Movement
ICICI Lombard General Insurance Company Limited shares slipped on Thursday, closing at ₹1813.6 after shedding 0.07% of its value. The stock closed below the previous day's close of ₹1821.1, having traded a volume of 420,984 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.