ICICI Lombard General Insurance Company Limited has received an order dated January 8, 2026, from the Additional Commissioner, CGST & Central Excise, Palghar. The order raises a Goods and Services Tax (GST) demand of ₹ 22,50,74,432/-, along with interest as per Section 50 of the Central Goods and Services Tax Act, 2017. Additionally, a penalty of ₹ 2,25,07,443/- has been levied under Section 73(9) of the Act. This demand and penalty cover the financial years 2021-22 to 2023-24 and relate to the eligibility of Input Tax Credit transferred to the company via Form ITC-02. The company stated that it would pursue an appeal or evaluate other legal options against the order, including filing a writ petition. The company has also informed that the information provided is true, correct, and complete to the best of their knowledge and belief. This information will be made available on the company's website, www.icicilombard.com.
