ICICI Lombard Confirms ₹10.35 Lakh GST Demand on Appeal

ICICI Lombard General Insurance Company Ltd has received an order from the Additional Commissioner, State Tax (Appeal), confirming a GST demand of ₹10,35,666, along with interest of ₹8,87,282 and a penalty of ₹1,03,566. This order pertains to the period April 2019 to March 2020. The company had previously received a similar order from the Office of the Special Commissioner, Large Taxpayers’ Unit. ICICI Lombard intends to pursue further appeals or evaluate other legal options, including filing a writ petition, against this confirmed demand. The company states that the total demand, including interest and penalty, is already accounted for as a contingent liability, thus having no immediate financial impact.