ICICI Lombard faces revised GST demand of ₹2.7cr

ICICI Lombard General Insurance has received a revised GST demand of ₹2.66 crore from tax authorities in Guwahati, up sharply from the original demand of ₹29 lakh issued in August 2024.

The revised order also includes interest of ₹5,753 and a penalty of ₹2.66 lakh for the period April 2019 to March 2020.

The demand stems from discrepancies in input tax credit availment and an undischarged interest liability related to alleged delayed tax payment. The company plans to appeal the order.