The New India Assurance Company Limited — Important, 30-12-2025: Disclosure of material issue

New India Assurance (NIACL) has received two adverse Goods and Services Tax (GST) orders totaling ~₹179.29 Cr in confirmed demands, covering tax, interest, and penalties.

**Details:**

* **Order 1 (Mumbai South, FY18-23):** An initial show-cause notice for ₹2,298.07 Cr was largely dropped, with a final confirmed demand of **₹110.12 Cr** for non-reversal of proportionate Input Tax Credit (ITC).

* **Order 2 (New Delhi, FY21-22):** Confirmed a demand of **₹69.17 Cr** for reasons including excess ITC claims and ITC on non-business transactions.

**Impact & Outlook:** NIACL states there is no immediate financial or operational impact as the company is challenging both orders before the First Appellate Authority. The company, based on tax consultant advice, believes it has a strong case on merits. #NIACL