Legal20 Feb 2026, 10:07 pm
SBI Life Insurance Company Ltd Receives Order from Joint Commissioner of State Tax (Appeal) I, Mumbai, Maharashtra under Section 107 of MGST and CGST Act 2017
AI Summary
SBI Life Insurance Company Ltd has received an order from the Joint Commissioner of State tax (Appeal) I, Mumbai, Maharashtra under Section 107 of the MGST and CGST Act 2017 on February 20, 2026 at 7:19 P.M. The order partially upholds the tax demand raised under Form GST DRC 07. The company had earlier disclosed the tax demand on April 30, 2024, which was Rs. 288,66,57,520/-. However, after the appellate authority's decision, the confirmed demand now stands at Rs. 1,59,44,96,372/-. The company will file an appeal before the Competent Authority / Appellate Tribunal against the said order in accordance with the applicable provisions under Goods and Service Tax Act.
Key Highlights
- SBI Life Insurance Company Ltd has received an order from the Joint Commissioner of State tax (Appeal) I, Mumbai, Maharashtra under Section 107 of the MGST and CGST Act 2017.
- The order partially upholds the tax demand raised under Form GST DRC 07.
- The earlier disclosed tax demand was Rs. 288,66,57,520/-, which has now been confirmed as Rs. 1,59,44,96,372/- after the appellate authority's decision.
- The company will file an appeal before the Competent Authority / Appellate Tribunal against the said order.