Daijiworld Media Network - New Delhi

New Delhi, Sep 30: State-run insurer New India Assurance Company Limited has received a Goods and Services Tax (GST) demand notice worth Rs 2,379 crore, the company disclosed in a stock exchange filing on Tuesday. The notice was issued by the Additional Commissioner of Central GST, Palghar Commissionerate, under various rules of the CGST/MHGST Act, 2017.

The tax demand relates to alleged non-payment of GST on two key revenue streams: premiums received as a follower in co-insurance arrangements and commission earned from reinsurance premiums ceded to other insurance companies.

According to the order dated September 29, 2025, authorities claim that New India Assurance failed to pay GST on premiums it received from the lead insurer in co-insurance deal

See Full Page