Max Healthcare Subsidiary Faces ₹55.23 Cr GST Demand

Max Healthcare Institute Ltd's wholly-owned subsidiary, Alps Hospital Limited, has received a show cause cum demand notice from the Directorate General of Goods & Services Tax Intelligence (DGGI) for an alleged GST demand of ₹55,23,52,071 along with applicable interest and penalties. The notice pertains to the alleged non-payment of GST on variable management fees. The company's management is in the process of filing submissions against this demand. The alleged penalty amounts are also ₹55,23,52,071 under different sections of the Central Goods and Services Tax Act, 2017. This disclosure was made as per SEBI regulations.