SBI Life Insurance Company Ltd has received a regulatory order from tax authorities in Bihar regarding Goods and Service Tax (GST) matters. The company disclosed this development through a regulatory filing under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

GST Order Details

The Deputy Commissioner of State Tax, Patna Special Central, Bihar issued an order under Section 73 of the BGST and CGST Act 2017 on December 22, 2025 at 04:10 PM. The order pertains to input credit availed on blocked credit under Section 17(5) of the CGST Act for the financial year 2021-22.

Financial Impact Breakdown

The GST demand order carries financial implications for the insurance company:

Company's Response

SBI Life Insurance has indicated its intention to challenge the order through legal channels. The company stated it will file an appeal before the competent authority or appellate tribunal against the order in accordance with applicable provisions under the Goods and Service Tax Act.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed companies to inform stock exchanges about material events that could impact their operations or financial position.

The company has provided detailed information as required under Schedule III of the SEBI listing regulations, ensuring transparency with stakeholders regarding this tax-related development. The matter relates to GST compliance issues from the financial year 2021-22, indicating a retrospective assessment by tax authorities.

Citi has maintained its buy recommendation on State Bank of India (SBI) with a target price of ₹1,110, signaling continued confidence in the country's largest public sector bank.

Analyst Recommendation

The global brokerage firm has reiterated its positive stance on SBI, keeping the buy rating unchanged. The target price of ₹1,110 indicates the firm's expectation of potential upside for the banking stock.

Investment Outlook

Citi's maintained buy rating reflects the brokerage's continued optimism about SBI's business prospects and financial performance. The target price provides investors with a reference point for potential returns on their investment in the banking stock.

The recommendation comes as part of Citi's ongoing coverage of the Indian banking sector, with SBI being one of the key stocks under their research purview.