Fortis Healthcare Subsidiary Receives GST Order for ₹597.93 Lakhs Demand
Fortis Healthcare Limited has disclosed that its wholly-owned subsidiary, Fortis Health Management Limited, has received a Goods and Services Tax (GST) order. The order confirms a demand of ₹597.93 la...
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Why is Fortis Healthcare Limited in the news today?
Fortis Healthcare Limited (FORTIS) is in the news due to the company has received a gst order with a demand and penalty, which is typically negative. however, the company disputes the demand, is filing an appeal, and anticipates no material impact, making the overall sentiment neutral.
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Fortis Healthcare Subsidiary Receives GST Order for ₹597.93 Lakhs Demand
January 2, 2026, 01:13 PM
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More Details on This News
Fortis Healthcare Limited has disclosed that its wholly-owned subsidiary, Fortis Health Management Limited, has received a Goods and Services Tax (GST) order. The order confirms a demand of ₹597.93 lakhs, which includes interest and penalty. This demand pertains to the financial year 2023-24, relating to a GST exemption previously claimed by the company for healthcare services.
The initial show cause notice was for ₹570.00 lakhs. Following a response from the subsidiary, the GST Authority passed an order confirming ₹597.93 lakhs, comprising ₹79.29 lakhs in interest and ₹259.32 lakhs in penalty. The show cause notice for the remaining amount has been dropped.
Fortis Healthcare Limited has stated that, based on its assessment, the demand is not maintainable. The company is in the process of filing an appeal against this order. The company does not foresee any relevant impact on its financials, operations, or other activities as a result of this order.
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