ICICI Lombard has received a GST demand order for FY2021-22, totaling approximately ₹2.7 crore. The demand includes ₹1.45 crore in GST, ₹1.11 crore in interest, and a penalty of ₹15.10 lakh. The company intends to appeal and explore other legal options against the order, which primarily concerns input tax credit eligibility and reporting methodology differences.
GST Demand Details
ICICI Lombard General Insurance Company has received a Goods and Services Tax (GST) demand order for the financial year 2021-2022. The total demand amounts to ₹2,70,92,086 and includes the following components:
< : Financials_ICICI_Lombard_20251226_160604.pdf>
* GST: ₹1,44,99,861
* Interest: ₹1,10,82,461
* Penalty: ₹15,09,764
Reasons for the Demand
The GST demand primarily arises from two key issues:
< : Financials_ICICI_Lombard_20251226_160604.pdf>
* Discrepancies in the computation of input tax credit eligible to the company.
* Differences in the methodology of reporting debit/credit notes between GSTR-1 and GSTR-9 filings.
Company Response
ICICI Lombard plans to challenge the order through an appeal process and is evaluating other legal avenues, including the possibility of filing a writ petition. The company received the order on December 26, 2025, at 1:31 p.m.
Source: BSE
