ICICI Lombard General Insurance has received a significant GST demand order from Rajasthan tax authorities, totaling ₹2.71 crores for the financial year 2021-22. The company disclosed this development on December 26, 2025, in compliance with regulatory requirements under SEBI listing obligations.

GST Demand Details

The Deputy Commissioner of State Tax, Business Audit Wing-III-A Rajasthan, Jaipur issued the order under Section 73 of the Central Goods and Services Tax Act, 2017 and Rajasthan Goods and Services Tax Act, 2017. The total financial impact breaks down as follows:

Grounds for GST Demand

The tax authorities have imposed the demand primarily on two specific grounds. First, the order questions the computation of input tax credit eligible to the company during FY2021-22. Second, it alleges undischarged tax liability due to differences in methodology of reporting debit and credit notes between GSTR-1 and GSTR-9 filed by ICICI Lombard General Insurance.

Company's Response Strategy

ICICI Lombard General Insurance has indicated it will contest the order through multiple legal avenues. The company plans to pursue an appeal against the GST demand order and evaluate other legal options, including the possibility of filing a writ petition. The insurer has stated that there is no immediate financial impact at this stage, suggesting confidence in its position.

Regulatory Compliance

The company received the order on December 26, 2025, at 1:31 PM and promptly disclosed the information to stock exchanges in compliance with Regulation 30 of SEBI listing requirements. Company Secretary Vikas Mehra signed the disclosure, confirming that all information provided is accurate and complete to the best of the company's knowledge.

Current Status

The GST demand pertains specifically to FY2021-22 operations and represents a regulatory challenge that ICICI Lombard General Insurance will address through appropriate legal channels. The company has made the disclosure information available on its official website at www.icicilombard.com , ensuring transparency with stakeholders and investors.

ICICI Lombard General Insurance Company Limited has disclosed receiving a GST demand order from tax authorities in Punjab, totaling ₹4.24 crores for the financial year 2021-22. The company made this disclosure under Regulation 30 of SEBI listing requirements.

GST Demand Details

The order was issued by the Excise and Taxation Officer-cum State Tax Officer, Ludhiana 3-Ward no. 47, Ludhiana, Punjab, under Section 73 of the Central Goods and Services Tax Act, 2017/Punjab Goods and Services Tax Act, 2017.

Grounds for GST Demand

The tax authorities have raised the demand on two primary grounds:

• Reduction in outward liability: Issues related to the issuance of credit notes
• Input tax credit computation: Concerns regarding the computation of input tax credit eligible to the company

The order specifically covers the period of FY2021-2022 and addresses what the authorities have identified as aberrations or non-compliances in these areas.

Company's Response and Legal Action

ICICI Lombard General Insurance has stated that it plans to appeal against the order. The company may also evaluate other legal options, including filing a writ petition. At this stage, the company indicates that there is no immediate financial impact, suggesting it does not expect immediate cash flow implications while the matter is under legal proceedings.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30(13) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes comprehensive details of the order as required by industry standards, and the information has been made available on the company's website at www.icicilombard.com .

Current Status

The matter pertains to historical transactions from FY2021-22. The company's approach to contest the order through legal channels indicates its position regarding the GST matters in question. As the legal process unfolds, stakeholders will be watching closely for any updates on this tax demand.