New Delhi, December 27, 2023.

ICICI Lombard on Wednesday said it received a demand notice for alleged short payment of GST of over Rs 5.66 crore.

In a regulatory filing, ICICI Lombard General Insurance Company said it has received an order from the Joint Commissioner CGST & Central Excise, Bhopal, Madhya Pradesh, raising a GST demand of Rs 5,66,02,264 and levying a penalty of Rs 56,60,226.

Taking into account the GST and penalty, the total demand amount is over Rs 6.22 crore. Plus, an interest u/s 50 of the GST act would be levied.