Quick Summary
In a recent development, Star Health and Allied Insurance Company Ltd disclosed receiving a significant tax demand order amounting to Rs 170 crore, coupled with a penalty of Rs 8.7 crore, pertaining to alleged non-payment of GST liability on re-insurance commission received during the fiscal year spanning April 2018 to March 2019. The demand order, issued by the Office of the Deputy Commissioner (ST)-II, Large Taxpayers Unit, Chennai-35, under Section 73 of the Central Goods and Services Tax Act
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FAQ :
Star Health has received a GST demand order amounting to Rs 170 crore.
Yes, Star Health has also been issued a penalty notice of Rs 8.7 crore.
The demand pertains to the fiscal year spanning April 2018 to March 2019.
Star Health intends to challenge the demand order within the stipulated timelines, based on advice from its tax advisors.
In the quarter ending December, Star Health reported a 37.6% year-on-year increase in profit to Rs 289.6 crore, with gross written premium rising by 16.4%.
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