Legal29 March 2026 at 04:31 pm
ICICI Lombard General Insurance Company Ltd Receives Stay Order on GST Demand of ₹ 31,18,41,716/-
AI Summary
ICICI Lombard General Insurance Company Ltd has received an order from the Hon’ble Bombay High Court granting a stay on the impugned order till the final disposal of the Writ Petition. The impugned order, raised a GST demand of ₹ 31,18,41,716/- under Section 74 of the Central Goods and Services Tax Act, 2017 along with interest and a penalty of the same amount for the period July 2017 to March 2024 covering various states. The dispute pertains to the applicability of GST on supplies of Group Health Insurance/ Group Personal Accident policies to units located within a Special Economic Zone, which is an industry-wide issue.
Key Highlights
- ICICI Lombard General Insurance Company Ltd has received a stay order from the Hon’ble Bombay High Court on an impugned order raising a GST demand of ₹ 31,18,41,716/-
- The stay order is granted till the final disposal of the Writ Petition
- The impugned order also imposed a penalty of ₹ 31,18,41,716/- under Section 74 read with Section 122 of the Act
- The dispute pertains to the applicability of GST on supplies of Group Health Insurance/ Group Personal Accident policies to units located within a Special Economic Zone
- The Hon’ble Court has granted four weeks time to the Revenue to file their reply