Announced Thu, 25 Jun · 15:49 IST
Appellate order confirms GST demand of about Rs 20 lakh against ICICI Lombard
ICICIGI · price
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Price reaction · full curve 14 horizons · vs prior close
-4.6%1-day move
₹1819.90
prior close
₹1810.00
base price
After-mkt
timing
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+0.3+0.3-0.2-0.4-4.6-3.3-3.2-2.5-1.7-1.0-11.2———
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AI summary
The GST appellate authority has confirmed an earlier demand of Rs 10.36 lakh plus interest of Rs 8.87 lakh and penalty of Rs 1.04 lakh for April 2019 to March 2020, related to input tax credit computation. ICICI Lombard had appealed an August 2024 order but the appeal was not in its favour. The company plans to pursue further legal options including a writ petition. It states there is no immediate financial impact as the amount is already part of contingent liabilities.
Likely market impact
Minor tax dispute; company plans to appeal further. Amount already covered under contingent liability, so no near-term hit to earnings.