ICICI Lombard Gets Reduced GST Demand, Plans to Challenge Revised Order

ICICI Lombard General Insurance Co. Ltd. ( (IN:ICICIGI) ) has issued an update.

ICICI Lombard General Insurance has disclosed that the Commissioner of GST & Central Excise (Appeals – I), Chennai has issued a revised order in an indirect tax matter covering the period from April 2018 to May 2019. The order lowers the previously raised interest demand and penalty to ₹ 72.45 lakh and ₹ 3.06 crore, respectively, from the higher amounts communicated in 2024.

The insurer said it will pursue an appeal or consider other appropriate legal remedies against the latest order, signalling that the dispute remains contested and unresolved. The update, filed under SEBI disclosure norms, indicates continued regulatory scrutiny on past tax positions but also reflects a partial reduction in the company’s potential liability compared with the original demand.

More about ICICI Lombard General Insurance Co. Ltd.

ICICI Lombard General Insurance Company Limited is one of India’s leading non-life insurers, offering a range of general insurance products including motor, health, property, and specialty lines. The company serves retail, corporate, and government clients across the country and is listed on both the BSE and the National Stock Exchange of India.

Average Trading Volume: 21,364

Technical Sentiment Signal: Hold

Current Market Cap: 882.2B INR

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