Bombay High Court granted a stay on a GST demand of ₹31.18 crore plus equal penalty against ICICI Lombard on March 26, 2026.
The original demand covered July 2017–March 2024, relating to GST on Group Health/Personal Accident Insurance policies supplied to SEZ units.
The court has given Revenue four weeks to file a reply; no financial impact is expected at this stage per the company's disclosure.