SBI Life Insurance Company Limited has received a GST order from tax authorities in Chennai, resulting in a total demand of ₹70.88 lakhs for the financial year 2021-2022. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Regulations.

GST Order Details

The order was issued by the Deputy Commissioner (ST) -III Large Tax Payers Unit Chennai-35 under Section-73 of the SGST and CGST Act 2017. The primary issue relates to the demand for reversal of Input Tax Credit (ITC) under section 17(5) of the CGST Act, 2017, applicable to the financial year 2021-2022.

Financial Implications

The total financial impact on SBI Life Insurance amounts to ₹70.88 lakhs, broken down as follows:

The penalty component of ₹4.02 lakhs represents the sanction imposed by the authorities as part of the order.

Company's Response Strategy

SBI Life Insurance has outlined its plan to contest the GST order through proper legal channels. The company stated it will file an appeal against the order before the competent authority or appellate tribunal, following the applicable provisions under the Goods and Service Tax Act.

This approach indicates the company's intention to challenge the tax demand through the established legal framework for GST disputes. The appeal process will allow the company to present its case and seek relief from the imposed demand.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events that could impact investor decisions.

The company provided comprehensive details as required under Schedule III of the listing regulations, ensuring transparency regarding the nature, financial implications, and planned response to the GST order.

SBI Life Insurance Company Limited has received a GST order from Delhi tax authorities with a total demand of ₹8.23 lakh, the company informed stock exchanges on December 28, 2025. The order pertains to the financial year 2021-22 and involves issues related to input tax credit and blocked credit provisions.

GST Order Details

The company received the order under Section-73 of the SGST and CGST Act 2017 from the Assistant Commissioner/GSTO, Ward 206, Zone 11, Delhi on December 27, 2025 at 05:29 pm. The order partially upholds tax demands raised under Form GST DRC 07.

Nature of Tax Demands

The GST order addresses two primary areas of concern identified by the tax authorities:

• Blocked Credit Issues: Demand on blocked credit under Section 17(5) of the CGST Act 2017
• Input Tax Credit Claims: Demand on ITC claimed from cancelled dealers, return defaulters, and tax non-payers

These issues relate to the company's GST compliance and input tax credit claims during the financial year 2021-22.

Company's Response

SBI Life Insurance has announced that it will file an appeal against the GST order before the competent authority or appellate tribunal. The company stated it will pursue this appeal in accordance with the 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. The company provided comprehensive details of the communication received from tax authorities, including the financial implications and planned course of action.

The relatively modest amount of the tax demand, totaling ₹8.23 lakh, represents a routine compliance matter for the insurance company. The company's decision to appeal the order indicates its intention to contest the tax authorities' findings through the established legal framework.