Tax & Penalty1 Oct 2026, 05:10 pm
ICICI Lombard GST Demand Revised to ₹3.34 Lakhs Post-Appeal
AI Summary
ICICI Lombard General Insurance Company Ltd has received an order from the Additional Commissioner of CGST (Appeals-I), Chennai, partially allowing their appeal against a GST demand. The original net GST demand of ₹2,563,372/- (GST + Penalty) for the period July 2017 to March 2020 has been revised. The new demand includes a GST demand of ₹3,34,646/-, interest under Section 50, and a penalty of ₹97,751/-. The company is evaluating further legal options, including filing a writ petition, to contest this revised demand. The company states there is no immediate financial impact at this stage.
Key Highlights
- GST demand revised to ₹3,34,646/- plus penalty and interest.
- Original demand was ₹2,563,372/- for July 2017-March 2020.
- Company is pursuing further legal options, including a writ petition.
- No immediate financial impact stated by the company.
- Appeal was partially allowed in favor of the company.
Price Impact
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