Star Health Insurance receives GST Demand worth Rs.49 Crore across Several States due to alleged Violations:

Star Health Insurance receives GST Demand worth Rs.49 Crore across Several States due to alleged Violations The Star Health and Allied Insurance Co. Ltd., the private insurer, has received 25 tax demands of Rs.49 crores including penalties across various zonal offices situated in Haryana, Delhi, Maharashtra, Tamil Nadu, Telangana and Karnataka by Goods and Services Tax (GST) and Central Excise authorities. As per the filing by Star Health Insurance on the exchange, the tax demands are related to alleged violations, including the non-payment of GST on coinsurance transactions. A senior GST official confirmed that these violations include not paying the required GST tax on coinsurance transactions, non-payment of GST on coinsurance transactions, non-disclosure of these transactions in statutory returns, and not giving proper invoices for the coinsurance services. Star Health Insurance in Delhi got four tax demand orders worth Rs.4.7 crore from GST authorities in South Delhi. The Haryana office got five tax orders worth Rs.4.9 crore from the Office of the Additional Commissioner of GST and Central Excise, Gurgaon (North) Ward. Its Mumbai and Andheri East offices got five tax orders amounting to Rs.19.4 crore, which was the highest among all states. The Telangana office in Secunderabad received five orders amounting to Rs. 3.8 crore, while its office in Karnataka received one tax order amounting to Rs.12.8 lakh from Bengaluru West GST authorities. At last, the Tamil Nadu office got five tax demand orders worth Rs.16.2 crore.