General Insurance Corporation of India — Others, 29-07-2025: Action(s) taken or orders passed

General Insurance Corporation of India (GIC) has received an appeal order from tax authorities demanding a tax liability of Rs. 138.47 Cr. This demand includes interest and penalty, and relates to alleged short payment of CGST and non-reversal of Input Tax Credit for various financial years. GIC stated that this order will have no material impact on its financials, operations, or other activities. The company intends to appeal this demand at the GST tribunal, signalling their intent to contest the claim. This is a key update for shareholders regarding potential liabilities.