New India Assurance believes that it has strong case on merit. Based on the advice of its tax consultants, the company is in the process of filing a detailed reply highlighting its contentions with the adjudicating authority within the prescribed timelines
Mumbai:State owned New India Assurance (NIA) on Thursday said tax authorities have issued a show cause notice with a demand of Rs 2,298 crore Goods and Services Tax (GST) for five financial years.
The company has received a show cause notice dated June 26, 2025, from the office of Additional Commissioner, Mumbai-South, and Maharashtra state, NIA said in a regulatory filing.
The notice requires the company to show cause as to why the alleged GST demand of Rs 22,98,06,74,252 for the period April 2018 to March 2023 should not be demanded from the insurer, it said.
The company believes that it has a strong case on merit, it added.
Based on the advice of our tax consultants, the company is in the process of filing a detailed reply highlighting the contentions of the company with the Adjudicating Authority within the prescribed timelines, the filing said.