Tax & Penalty25 Sept 2026, 06:40 pm
SBI Life receives GST order, plans appeal; ₹1.13 Cr demand raised
AI Summary
SBI Life Insurance Company Ltd has received an order from the Deputy Commissioner, Jaipur, Rajasthan, concerning GST. The order, dated September 25, 2026, raises a demand of ₹96,12,911 in tax, ₹7,25,306 in interest, and ₹9,61,291 in penalty, totaling ₹1,12,99,508. The demand is related to excess Input Tax Credit claimed in GSTR 3B compared to GSTR-2B for the period April 2025 to August 2025. The company intends to file an appeal against this order before the Competent Authority/Appellate Tribunal.
Key Highlights
- SBI Life received a GST order from Rajasthan authorities.
- A total demand of ₹1.13 Cr has been raised for tax, interest, and penalty.
- The demand is for excess Input Tax Credit claimed between April-August 2025.
- The company plans to appeal the order.
- The financial implication is ₹1,12,99,508.
Price Impact
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