Star Health and Allied Insurance Company said that it has received a tax demand order for Rs 170 crore, along with a penalty of Rs 8.7 crore on non-payment of GST liability on the re-insurance commission received by the company during the period April 2018 to March 2019.
“The company has received a demand order from the Office of the Deputy Commissioner (ST)-II, Large Taxpayers Unit, Chennai-35 under Section 73 of the Central Goods and Services Tax Act, 2017, February 14, 2024 alleging a total demand of Rs 170,67,13,561 and imposing penalty of Rs 8,67,25,664. The Demand order refers to matters relating to industry wide issues. Based on the advice of its tax advisors, the company will be filing appropriate response or appeal to the said Demand order
within the prescribed timelines. the company said in a regulatory filing