ICICI Lombard Faces Fresh Hearing in Rs 1,902 Crore GST Case
The Bombay High Court has set aside a previous ruling on ICICI Lombard's Rs 1,902 crore GST demand and ordered a fresh hearing. The adjudicating authority must consider the GST Council's decision and relevant circulars during the new hearing. ICICI Lombard states that this development currently has no financial impact on the company.

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ICICI Lombard General Insurance Company is set to undergo a fresh hearing in a significant GST case, following a recent Bombay High Court decision that overturned a previous ruling on a Rs 1,902 crore GST demand.
Key Developments
- The Bombay High Court has set aside a previous ruling on ICICI Lombard's Rs 1,902 crore GST demand.
- A fresh hearing has been ordered by the court.
- The adjudicating authority has been instructed to consider the GST Council's decision and relevant circulars during the new hearing.
Financial Implications
ICICI Lombard has stated that this development currently has no financial impact on the company. This announcement suggests that the insurance giant does not anticipate immediate financial consequences from the court's decision.
Looking Ahead
The fresh hearing ordered by the Bombay High Court marks a significant turn in this GST case. By instructing the adjudicating authority to take into account the GST Council's decision and circulars, the court aims to ensure a comprehensive review of the matter.
As this case progresses, it will be crucial to monitor how the new hearing unfolds and its potential implications for ICICI Lombard and the broader insurance sector. The outcome could have significant ramifications for the interpretation and application of GST regulations in the insurance industry.
Investors and industry observers will likely keep a close eye on further developments in this case, particularly any updates from ICICI Lombard or regulatory bodies regarding the fresh hearing and its potential outcomes.
Historical Stock Returns for ICICI Lombard General Insurance
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-0.49% | -0.72% | +0.20% | +7.53% | +10.14% | +59.02% |