ICICI Lombard Gets Temporary Relief from ₹1,728.86 Crore GST Demand

1. About the Case

ICICI Lombard General Insurance Company Ltd, India’s largest private general insurer, was issued a GST demand of ₹1,728.86 crore by tax authorities.

2. High Court Decision

On July 3, 2025, the Bombay High Court set aside the tax order and directed that the case be re-heard by the adjudicating authority.

3. Reason for Court’s Order

The court observed that the GST authority did not consider the GST Council’s circulars and official guidance while passing the earlier order.

It emphasized that these circulars must be considered during adjudication.

4. Company’s Disclosure

ICICI Lombard informed in a stock exchange filing that it received communication from its tax advisors on July 2, 2025, at 5:29 PM regarding the court's decision.

The company confirmed that the order confirming the tax demand has been set aside.

5. Current Status

The tax demand is not final, and the matter will now go through a fresh hearing.

ICICI Lombard stated that there is no financial impact at this stage.