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ICICI Lombard General Insurance Co. Ltd. ( (IN:ICICIGI) ) has issued an announcement.
ICICI Lombard General Insurance has disclosed that the Bombay High Court has granted a stay on a sizeable goods and services tax demand order previously issued by the Additional Commissioner of CGST & Central Excise, Palghar Commissionerate. The disputed demand of about ₹31.18 crore in tax, plus an equal amount in penalty, relates to GST applicability on group health and group personal accident policies sold to units in Special Economic Zones, an issue that affects the wider insurance industry and could influence the company’s tax exposure and compliance costs until the writ petition is finally resolved.
More about ICICI Lombard General Insurance Co. Ltd.
ICICI Lombard General Insurance Company Limited is one of India’s leading non-life insurers, offering products such as motor, health, travel, and corporate insurance solutions. The company serves a broad retail and institutional customer base across the country and is listed on both the BSE and the National Stock Exchange of India.
Average Trading Volume: 24,325
Technical Sentiment Signal: Hold
Current Market Cap: 870.1B INR
See more data about ICICIGI stock on TipRanks’ Stock Analysis page.