ICICI Lombard has received an interim stay from the Hon’ble Bombay High Court on a GST demand order amounting to ₹17.2 billion. The original demand, issued by the Additional Commissioner, CGST & Central Excise, Palghar Commissionerate, included penalties and interest related to GST for the period between July 2017 and March 2022. The matter pertains to industry-wide issues regarding the taxability of co-insurance premiums and re-insurance commissions.
Interim Relief from GST Demand
ICICI Lombard received communication from its tax advisors on January 22, 2026, regarding an interim order passed by the Hon’ble Bombay High Court. This order grants an ad-interim stay on a previously issued demand related to Goods and Services Tax (GST). The original demand order was for ₹17,288,610,803 with an additional penalty of ₹1,728,861,079 and interest levied under the CGST Act, 2017.
Background of the Demand
The GST demand relates to the period from July 2017 to March 2022 and covers multiple states where the company was registered. The core issue pertains to industry-wide disputes surrounding the tax treatment of co-insurance premiums and re-insurance commissions. The company had previously filed a Writ Petition with the Hon’ble Bombay High Court challenging the initial demand order.
Source: BSE
