The New India Assurance Company Limited — Important, 30-09-2025: Disclosure of material issue

New India Assurance has received a GST demand of ₹2,379.13 crore for alleged non-payment on co-insurance premium received and re-insurance commission earned. 🚨

**The Issue:** The tax demand, including penalty, alleges the company failed to discharge appropriate GST on these specific insurance transactions.

**Possible Impact:** The company asserts there is no financial or operational impact from this order.

**Company’s Response/Mitigation:** New India Assurance highlights recent regulatory changes: the 53rd GST Council meeting declared these transactions as "No Supply," and CBIC circulars have regularized past cases on an "As is where is" basis. The company believes it has a strong case, will defend itself on merits, and plans to take appropriate action against the order within prescribed timelines.