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Star Health and Allied Insurance Company has received a penalty order of ₹10.71 lakh from the Office of the Sales Tax Officer Class-II in Delhi, concerning a GST demand for the period from April 2020 to March 2021. The penalty arises due to short payment of outward liability and excess Input Tax Credit claimed.
The company has indicated it will appeal this decision based on legal counsel's advice, asserting a strong case for successful defense. Importantly, it anticipates no significant impact on its financial or operational activities stemming from this situation. Investors should monitor this development as it may influence the company's risk profile but, for now, the outlook remains stable.
All announcements from Star Health and Allied Insurance Company Limited