HDFC Life Insurance Company Limited has informed the Exchange about GST order
HDFCLIFE · price
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Awaiting price reaction for this filing.
HDFC Life has received an order from the Deputy Commissioner of State Tax (Appeals), Maharashtra on March 6, 2026, in connection with an earlier GST order. The appellate order confirms the total tax demand of Rs 104.79 crore plus interest of Rs 94.31 crore (no penalty) for the period April 1, 2019 to March 31, 2020. The original demand was raised by the Assistant Commissioner of State Tax in August 2024. The company has stated that this order will have no adverse material impact on its financial operations. HDFC Life plans to further contest the demand by filing an appeal before the GST Appellate Tribunal.
Despite the adverse appellate order, the company has explicitly stated there is no material financial impact, suggesting the amount is manageable relative to its overall financial position. Shareholders should monitor the next round of appeal at the GST Appellate Tribunal, as a further adverse ruling could eventually become a financial liability.