ICICI Lombard General Insurance Company has been granted a stay by the Hon’ble Bombay High Court on a GST demand order amounting to ₹31,18,41,716. The order, initially issued by the Additional Commissioner of CGST & Central Excise, Palghar Commissionerate, pertains to the period from July 2017 to March 2024.
The company had previously challenged the order, which included a penalty of an equivalent amount, in a writ petition. The demand was related to the applicability of GST on supplies of Group Health Insurance and Group Personal Accident policies to units located within a Special Economic Zone.
On March 28, 2026, ICICI Lombard received the court’s decision, which stays the execution of the impugned order until the final disposal of the writ petition. The court has also provided four weeks for the Revenue to file their reply.
At this stage, ICICI Lombard has indicated that there are no expected financial implications resulting from this development.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).