SBI Life Insurance has received an order from the Additional Commissioner of State Tax (Appeal), Patna, confirming a previously disclosed GST demand for the financial year 2021-2022. The company has clarified that this order will have no adverse material impact on its financial operations. In response, SBI Life plans to challenge the decision by filing an appeal before the appropriate Competent Authority or Appellate Tribunal in accordance with current tax laws.
Background of the Tax Order
On December 22, 2025, SBI Life Insurance initially reported a tax demand from the Deputy Commissioner of State Tax, Patna. The demand, related to the 2021-2022 financial year, included a tax liability of Rs. 6,19,497, interest of Rs. 3,80,989, and a penalty of Rs. 64,697. This matter has remained under review since the initial filing.
Latest Developments
The company announced on April 24, 2026, that the Additional Commissioner of State Tax (Appeal) in Patna has issued an order confirming the aforementioned tax demand and associated interest. Despite this development, the company maintains that the financial obligations arising from this order are not significant enough to disrupt its overall financial performance or operations.
Next Steps
SBI Life Insurance is preparing to contest the order formally. The company has confirmed its intent to file an appeal with the Competent Authority or the relevant Appellate Tribunal. The management remains committed to resolving the issue through the legal channels provided under the Goods and Service Tax Act, ensuring full compliance throughout the appeal process.
Source: BSE
