Star Health and Allied Insurance Company Limited is in receipt of an Order passed by the Additional Commissioner, under the office of the Commissioner of Goods & Services Tax & Central Excise, Chennai South Commissionerate, Chennai, According to the Company’s exchange filing.
The Company has received an order from the Additional Commissioner, under the office of the Commissioner of Goods & Services Tax & Central Excise, Chennai South Commissionerate, Chennai imposing a tax demand of ₹ 33,04,89,702 with applicable interest and penalty of ₹ 33,04,89,702 under Section 74(9) of the CGST Act 2017.
The matter was related to the alleged violations of non-payment of GST on the transactions of coinsurance as a follower; non-disclosure of coinsurance as follower transactions in the statutory returns filed from time to time and non-issuance of invoices for coinsurance as follower services.
The Company is set to challenge the order before an appropriate authority. “The Company believes that it has a strong case based on merits, to successfully defend these matters and proposes to file an appeal against the order before the relevant authorities,” Star Health and Allied Insurance Company said in their regulatory filing.
Source #ET
