Aster DM Healthcare has disclosed the receipt of an order from the Assistant Commissioner, Kochi Commissionerate, concerning alleged non-payment of GST on insurance processing fees for the fiscal years 2019-20 to 2023-24. The total demand, inclusive of tax and penalty, amounts to ₹72,90,932. The company has stated that this order will have no material impact on its financials or operations, as it plans to pursue the available legal remedies, including an appeal.
Disclosure of Regulatory Order Received
Aster DM Healthcare Limited has formally submitted details regarding an order received from the Goods and Services Tax (GST) authorities. The communication was received on March 25, 2025, from the Assistant Commissioner, Kochi Commissionerate (Ernakulam Division). This disclosure is made pursuant to applicable listing regulations.
Details of the GST Demand
The order issued pertains to the alleged contravention under Section 74 of the Central GST Act, 2017. Specifically, the authority alleges the nonpayment of GST on Insurance processing fees for the financial periods spanning FY 2019-20 to 2023-24.
The financial quantification of this demand is detailed as follows:
- Tax Amount Assessed: Rs. 36,45,466/-
- Penalty Amount Assessed: Rs. 36,45,466/-
- Total Demand Value: Rs. 72,90,932/-
Company Stance and Future Action
The management has assessed the potential consequence of this order. Aster DM Healthcare confirms that there is no material impact on the company’s ongoing financials, operations, or other key activities as a result of this specific order.
The company confirms that the Order is appealable. Consequently, Aster DM Healthcare will proceed to take necessary actions, including the exercise of all legal remedies available under the relevant GST law to contest this demand.
Source: BSE
