ICICI Lombard receives revised GST demand of ₹ 29.30 lakh, plans appeal
The total revised demand of approximately ₹ 29.30 lakh (including GST, interest, and penalty) is relatively small for a company of ICICI Lombard's size. Furthermore, the company explicitly states 'No impact at this stage' and intends to appeal, suggesting the immediate financial impact is minimal and subject to further legal proceedings.
The company received a revised GST demand order. While it involves a financial claim, the company is appealing the order, and it has stated 'No impact at this stage', indicating the situation is ongoing and not yet a confirmed liability, hence neutral.
ICICI Lombard General Insurance Company Limited has provided an update on a GST demand. The company had previously informed the stock exchanges on August 28, 2024, about an initial GST demand from the Office of the Assistant Commissioner, Central GST & Central Excise, Guwahati, for the period April 2019 to March 2020. This initial demand was for ₹ 29,07,652 in GST, ₹ 5,753 in interest, and a penalty of ₹ 2,90,766.
* On August 16, 2025, the company received a revised order from the Office of the Commissioner (Appeals) CGST, Central Excise & Customs, Guwahati. This new order revised the demand to ₹ 26,58,640 for GST, ₹ 5,753 for interest, and a penalty of ₹ 2,65,864. * The demand stems from discrepancies identified during reconciliation of returns related to input tax credit availment and an alleged undischarged interest liability due to delayed tax payment. * The company stated that it would pursue an appeal or evaluate other legal options against this revised order. * As per the company's assessment, there is "No impact at this stage" expected financially.
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 legal. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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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.