Mumbai: The Bombay High Court has granted an ad-interim stay on a large GST demand raised against ICICI Lombard General Insurance Company, providing temporary relief to India’s largest private sector general insurer.
In a regulatory filing on Friday, ICICI Lombard said it has received confirmation that the High Court has stayed a GST demand of ₹1,728.9 crore, along with a penalty of ₹172.9 crore and applicable interest, raised by the Palghar Commissionerate of CGST and Central Excise.
The tax demand relates to the period between July 2017 and March 2022 and pertains to industry-wide issues concerning the taxability of co-insurance premium received as a follower and reinsurance commission, the company said. ICICI Lombard had challenged the order by filing a writ petition before the Bombay High Court.
According to the disclosure, the interim relief does not have any financial impact on the company at this stage. The insurer said the stay was granted through an ad-interim order passed by the court and communicated to the company by its tax advisors on January 22, 2026.
The case is being closely tracked by the insurance industry, as it involves interpretational issues under the GST regime that could have broader implications for insurers operating co-insurance and reinsurance arrangements.