Star Health and Allied Insurance Co. Ltd. on Saturday shared that the company’s zonal offices at Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana and Karnataka have received 25 tax demand orders.
The alleged violations include non-payment of GST on the transactions of coinsurance as follower; non-disclosure of coinsurance as follower transactions in the statutory returns filed from time to time; non-issuance of invoices for coinsurance as follower services, according to an exchange filing.
The company’s Haryana office has received five tax demand orders worth Rs 4.9 crore including penalty, according to an exchange filing. The company has received an order from the Office of the Additional Commissioner of Goods & Services Tax & Central Excise, Gurgaon (North) Ward.
Based on legal counsel’s advice, the company would be filing an appeal or writ petition with the appropriate authorities to address the matter, according to an exchange filing.
The company’s Delhi office has received four tax demand orders worth Rs 4.7 crore including penalty from the office of the Additional Commissioner of Goods & Services Tax & Central Excise, Delhi South.
The company’s Maharashtra office has received five tax demand orders worth Rs 19.4 crore including penalty, from the office of the Additional Commissioner of Goods & Services Tax & Central Excise, Mumbai-East, Andheri East and Mumbai South West.
The company’s Tamil Nadu office has received five tax demand orders worth Rs 16.2 crore including penalty, from the office of the Additional Commissioner of Goods & Services Tax & Central Excise, Chennai-North.
Additionally, the company’s Telangana office has received five tax demand orders worth Rs 3.8 crore including penalty, from the office of the Additional Commissioner of Goods & Services Tax & Central Excise, Secunderabad.
Karnataka office has also received a tax demand order worth Rs 12.8 lakh including penalty from office of the Additional Commissioner of Goods & Services Tax & Central Excise, Bengaluru West.
Source from: https://www.ndtvprofit.com/business/star-health-gets-25-tax-demand-orders-over-coinsurance-transactions
