HDFC Life Insurance has confirmed receiving an Order dated March 6, 2026, from the Deputy Commissioner of State Tax (Appeals), Maharashtra. This order sustains the original GST tax demand, including interest, related to the period between April 1, 2019, and March 31, 2020. The company stated the matter will not materially impact financial operations and confirmed plans to appeal this decision before the GST Appellate Tribunal.
Disclosure Regarding State Tax Proceedings
HDFC Life Insurance Company Limited issued an important disclosure concerning Goods and Services Tax (GST) matters. This communication serves as a follow-up to an earlier intimation filed on August 31, 2024, regarding an initial demand order.
Details of the Original Demand
The initial proceedings involved a demand period spanning from April 1, 2019, to March 31, 2020. The original assessment raised a tax demand of Rs 104.79 crore, coupled with an interest component of Rs 94.31 crore. No penalty was initially levied in that order received from the Assistant Commissioner of State Tax (INV-6), Mumbai.
Confirmation by Appellate Authority
Further to the initial notice, the Company received an official Order on March 6, 2026, from the Deputy Commissioner of State Tax (Appeals), Maharashtra. This appellate order officially confirms the total tax demand including the accrued interest as previously determined by the Assistant Commissioner.
Management Outlook and Next Steps
HDFC Life Insurance has assessed the financial implications of this confirmed demand. The management has concluded that the said Order will have no adverse material impact on the financial operations of the Company. Consequently, the company intends to contest this ruling further by filing an appeal before the GST Appellate Tribunal.
The communication was authorized and signed by Nagesh Pai, Company Secretary & Compliance Officer, on March 7, 2026.
Source: BSE
