ICICI Lombard General Insurance Company Limited announced that the Company has received an Order from the State Tax Officer, Ghatak 5 (Ahmedabad), Range-2, Division-1, Gujarat raising a GST demand of INR 7,185,191, interest of INR 7,221,117 and levying penalty of INR 727,714. The Company will be filing an appeal against the said Order. Order received by the Company under Section 73 of the Central Goods and Services Tax Act, 2017 ("the Act") /Gujarat GST Act, 2017 for the period April 2018 to March 2019.

Order has imposed demand on following grounds: Computation of input tax credit eligible to the Company; Alleged undischarged tax liability due to differences between returns filed by the Company.