Legal2 Sept 2026, 06:30 pm
ICICI Lombard GST Demand Rises to ₹3.3 Cr Post Appeals
AI Summary
ICICI Lombard General Insurance Company Ltd has received adverse orders from the Commissioner of Customs & Central Tax (Appeals-I), Hyderabad. The company's appeal against a GST demand of ₹1,47,86,059/- and penalty of ₹14,78,606/- for FY2018-19 was rejected. Additionally, the department's appeal against the relief of ₹1,81,97,223/- granted to the company was allowed. This results in an aggregate GST demand of ₹3,29,83,282/- and penalty of ₹14,78,606/-. The company plans to pursue further legal options, including a writ petition.
Key Highlights
- Aggregate GST demand and penalty now stand at ₹3,29,83,282/-.
- Company's appeal against GST demand rejected by appellate authority.
- Department's appeal for tax demand relief allowed by appellate authority.
- Company will evaluate further legal options, including writ petition.
Price Impact
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