The Bombay High Court has set aside the GST demand order of ₹1,728.86 crore issued to India’s largest private sector general insurer, and directed the adjudicating authority to re-hear the case in light of the GST Council’s stance and related circulars. Shares of ICICI Lombard General Insurance Company Ltd ended at ₹2,038.80, down by ₹5.15, or 0.25%, on the BSE.
