Star Health and Allied Insurance Company Limited — Important, 25-01-2025: General Updates

Star Health and Allied Insurance Company has received an order imposing a tax demand of ₹33.05 crore, along with interest and penalties, from the Additional Commissioner of Goods & Services Tax in Chennai. The alleged violations pertain to the non-payment of GST on co-insurance transactions, failure to disclose these transactions in statutory returns, and non-issuance of invoices. The company maintains that these co-insurance transactions should not attract GST, citing a favorable ruling from the Chennai High Court in a related case involving another insurer. Star Health believes it has strong grounds to contest this order and plans to appeal, anticipating no significant impact on its operations or financial standing as a result of this situation. Investors should watch closely for updates on the appeal process.