Tax & Penalty24 Apr 2026, 10:31 pm
SBI Life receives GST order confirming ₹6.19 Lakh tax demand
AI Summary
SBI Life Insurance Company Ltd has received an order on April 24, 2026, from the Additional Commissioner of State Tax (Appeal), Patna, confirming a GST tax demand. This order relates to a previous intimation on December 22, 2025, concerning a GST Order for FY 2021-2022. The demand includes a tax of ₹6,19,497, interest of ₹3,80,989, and a penalty of ₹64,697. The company intends to file an appeal before the Competent Authority/Appellate Tribunal against this order. SBI Life has stated that this order will not have any adverse material impact on its financial operations.
Key Highlights
- GST order confirms tax demand of ₹6,19,497 for FY22.
- Total demand including interest and penalty is ₹10,65,183.
- Company plans to appeal the order before the Appellate Tribunal.
- No material adverse financial impact is expected from the order.
Price Impact
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