ICICI Lombard Receives GST Demand and Penalty Order
ICICI Lombard received a GST demand of ₹ 47.41 crore and a penalty of ₹ 47.41 crore from the Joint Commissioner, CGST & Central Excise, Bhopal, for FY19-23. The company will appeal.
The financial implications of the GST demand and penalty are substantial, but the company intends to appeal, which could mitigate the impact.
The announcement discusses a significant GST demand and penalty imposed on the company, which is likely to negatively impact investor sentiment.
* ICICI Lombard General Insurance Company Limited received an order on December 2, 2025, from the Joint Commissioner, CGST & Central Excise, Bhopal. * The order raises a GST demand of ₹ 47,41,42,600 and imposes a penalty of ₹ 47,41,34,646 under the CGST Act, along with interest, for FY2018-19 to FY2022-23. * The demand is based on: * Undischarged tax liability due to reconciliation differences. * Delayed tax payment on advances. * Short payment of tax under reverse charge mechanism. * Computation of input tax credit. * The company will appeal the order or evaluate other legal options, including filing a writ petition.
What to do with a filing like this
ICICI Lombard General Insurance Company Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by ICICI Lombard General Insurance Company Limited. Read the original for the full detail.