Quick Summary
Star Health and Allied Insurance Company found itself in the spotlight as it received a significant notice from the Directorate General of GST Intelligence (DGGI) concerning a tax liability amounting to ₹38.99 crore. This development was disclosed in the companys filing on the Bombay Stock Exchange (BSE) on Monday. In the official statement, Star Health and Allied Insurance acknowledged the receipt of a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, specificall
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FAQ :
Star Health and Allied Insurance Company has received a notice for an alleged tax liability amounting to ₹38,99,77,849, which is approximately ₹39 crore.
The notice was issued by the Directorate General of GST Intelligence (DGGI), specifically from the Mumbai Zonal Unit.
The tax demand is due to the alleged non-payment of GST liability on the premium received by the company as a follower insurer under a coinsurance arrangement from July 2017 to March 2023.
The company has acknowledged the notice and stated its intention to respond within the stipulated timeframe.
Yes, in August, the company received another notice from the GST department in Chennai demanding ₹104 crore for discrepancies in returns filed during the fiscal year 2019-20.
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