Star Health faces Rs 49 crore GST demand from tax authorities, ET BFSI
Mumbai, Star Health and Allied Insurance Firm Restricted has obtained 25 tax demand orders from the Goods and Services Tax (GST) authorities throughout a number of states.
The whole demand, together with penalties, quantities to Rs 49 crore. The tax notices have been issued to the corporate’s zonal places of work in Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana, and Karnataka.
Authorities have alleged that the corporate didn’t pay GST on sure transactions associated to coinsurance.
The violations additionally embody non-disclosure of those transactions in statutory filings and the failure to situation invoices for such companies.
“The alleged violations embody non-payment of GST on the transactions of coinsurance as follower; non-disclosure of coinsurance as follower transactions within the statutory returns filed occasionally; non-issuance of invoices for coinsurance as follower companies,” in line with an alternate submitting.
In Haryana, Star Well being’s workplace has obtained 5 tax demand orders price Rs 4.9 crore. The orders had been issued by the Further Commissioner of GST and Central Excise in Gurugram.
Equally, the corporate’s Delhi workplace has been served 4 orders amounting to Rs 4.7 crore. Maharashtra’s zonal workplace has been hit with the very best tax demand of Rs 19.4 crore by means of 5 orders.
These had been issued by the GST authorities in Mumbai East, Andheri East, and Mumbai South-West. In Tamil Nadu, the corporate has obtained 5 orders totalling Rs 16.2 crore from the Chennai North GST workplace.
The Telangana workplace has additionally been served 5 tax demand orders, amounting to Rs 3.8 crore. In the meantime, the Karnataka workplace has obtained a single order demanding Rs 12.8 lakh.
Star Well being has said that, primarily based on authorized counsel’s recommendation, it is going to file an enchantment or a writ petition to problem these tax calls for. The corporate will take applicable authorized steps to handle the matter.
In the meantime, final month, the corporate introduced that it has expanded its Residence Well being Care companies to 100 areas throughout India.
Launched in July 2023, this initiative now covers 85 per cent of Star Well being Insurance coverage’s prospects, offering cashless medical care at their doorstep.
–IANS
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