The demand comprised Rs 154.8 crore in tax and Rs 15.48 crore in penalty for the period between July 2017 and March 2022.
The court observed that the GST Council had considered the issue and issued relevant circulars. It has directed the adjudicating authority to decide the matter afresh in light of these directions, within three months.
“This matter primarily relates to an industry-wide issue. We are in the process of evaluating the legal advice on the implication of the order,” said the company in the filing. However, the filing added that Go Digit is yet to receive a copy of the said order.
This comes a year after the company listed on the stock market. Go Digit shares were trading at Rs 334.50 on the National Stock Exchange at 3:01 pm.
Last September, GST authorities in Patna, Pune, and Ahmedabad had issued the company a GST tax demand and penalty order of more than Rs 26 lakh.
The insurance company reported a net profit of Rs 116 crore in the fourth quarter of financial year 2025, up from Rs 53 crore in the same period a year earlier, representing a 118.9% increase. For the whole of FY25, the company reported that profit after tax surged 133.5% to Rs 425 crore, from Rs 182 crore in FY24.
