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After receiving warning from Directorate General of GST Intelligence (DGGI) for failing to pay tax of around Rs 1,728 crore for a period of five years beginning in July 2017 and ending in March 2022, ICICI Lombard General Insurance finished the .
The Directorate General of Goods and Services Tax Intelligence (DGGI) has issued a notice to ICICI Lombard and six other insurance companies for not paying GST on reinsurance premiums. The notice claims that these companies received commissions from co-insurance companies but did not pay tax on it.
In a regulatory filing, ICICI Lombard said it received a show cause cum demand notice from the Directorate General of GST Intelligence, Pune Zonal Unit on September 27, alleging a tax demand of Rs 17,28,86,10,803.
ICICI Lombard General Insurance, which received notice from DGGI for not paying Rs 1,730 crore in tax from July 2017 to March 2022, plans to contest the demand