ICICI Lombard Receives GST Demand of ₹2.20 Crore from Ludhiana Tax Officer
ICICI Lombard received a GST demand of ₹2.20 crore, interest of ₹1.49 crore, and penalty of ₹55.07 lakh for FY2021-2022 from Ludhiana tax authorities. The company plans to appeal the order. The announcement was made on December 24, 2025.
The total amount of demand, interest, and penalty is substantial and could impact profitability if not successfully appealed.
The company has received a significant tax demand, interest, and penalty, which is a negative development.
ICICI Lombard General Insurance Company Limited has received an order dated December 24, 2025, from the Excise and Taxation Officer-cum State Tax Officer, Ludhiana, imposing a Goods and Services Tax (GST) demand of ₹2,20,29,303/-, along with interest of ₹1,48,69,780/- and a penalty of ₹55,07,326/-.
This order pertains to the financial year 2021-2022 and was issued under Section 73 of the Central Goods and Services Tax Act, 2017 / Punjab Goods and Services Tax Act, 2017. The demand is reportedly due to reductions in outward liability via credit notes and computations related to input tax credit.
The company stated that it would pursue an appeal or evaluate other legal options against the order, including the possibility of filing a writ petition. The information regarding this order will be made available on the company's website.
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ICICI Lombard General Insurance Company Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. 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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