SBI Life has received a GST demand order for the financial year 2021-2022. The order, received on December 26, 2025, includes GST, applicable interest, and penalties. The total amount due is ₹14,67,51,551. SBI Life intends to appeal the order before the appropriate authority.
GST Demand Notification
SBI Life Insurance has received an order related to Goods and Services Tax (GST) for the financial year 2021-2022. This order, issued by the Deputy Commissioner of State Tax, pertains to discrepancies in Input Tax Credit (ITC) claims.
Financial Implications
The total financial impact of the order amounts to ₹14,67,51,551, broken down as follows:
- Tax Amount: ₹7,90,89,234
- Interest: ₹5,97,53,394
- Penalty: ₹79,08,923
Response Plan
SBI Life plans to challenge this order by filing an appeal with the Competent Authority/ Appellate Tribunal. The company will proceed according to the relevant provisions of the Goods and Services Tax Act. The order was received on December 26, 2025.
Source: BSE
