ICICI Lombard General Insurance Company Limited Receives Order from Superintendent of Central GST & Central Excise, Patna, Bihar Raising GST Demand and Levying Penalty
March 08, 2024 at 05:44 am EST
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ICICI Lombard General Insurance Company Limited announced that on March 7, 2024 at 7:14 p.m., the Company has received an Order from the Superintendent of Central GST & Central Excise, Range Gandhi Maidan, Patna, Bihar raising a GST demand of INR 142,709 and levying penalty of INR 14,271 with Interest u/s 50 of the Act. The Company will be filing an appeal against the said Order. Order received by the Company under Section 73(9) of the Central Goods and Services Tax Act, 2017 (the Act) /Bihar GST Act, 2017 for the period April 2018 to March 2019 (FY 2018-19).
Order has imposed demand on alleged undischarged tax liability due to differences between returns filed by the Company.
ICICI Lombard General Insurance Company Limited is an India-based general insurance company. The Company offers a comprehensive and diversified range of products through multiple distribution channels, including motor, health, crop, fire, personal accident, marine, engineering, and liability insurance. Its segments include Fire, Marine, Health including Personal Accident, Miscellaneous, Crop Insurance and Motor. Its Health including Personal Accident segment includes health retail, health group corporate and health government business. Its Miscellaneous segment includes miscellaneous retail and miscellaneous group corporate business. Its motor insurance includes car insurance, bike insurance and motor floater. Its health insurance includes Health AdvantEdge, MaxProtect, health booster, personal protect, Arogya Sanjeevani Policy, Saral Suraksha Bima and others. Its other insurances include crop insurance, NRI insurance, cyber insurance, ICICI Bharat Griha Raksha Policy and others.
ICICI Lombard General Insurance Company Limited Receives Order from Superintendent of Central GST & Central Excise, Patna, Bihar Raising GST Demand and Levying Penalty