SBI Life Insurance Company Limited has informed the Exchange about General Updates
SBILIFE · price
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Awaiting price reaction for this filing.
SBI Life Insurance has received an order from the Additional Commissioner of State Tax (Appeal), Patna, upholding a GST tax demand related to input credit claimed on blocked credit under Section 17(5) of the CGST Act for FY 2020-21. The original demand disclosed in February 2025 stands at Rs. 7.4 lakhs total (tax of Rs. 3.89 lakhs, interest of Rs. 2.62 lakhs, and penalty of Rs. 0.89 lakhs). The company has stated there is no impact at this stage and plans to file a further appeal before the Appellate Tribunal. The financial impact is negligible compared to the company's overall size.
The tax amount involved is very small (under Rs. 8 lakhs) relative to SBI Life's business and is unlikely to affect the stock. The company is contesting the order further, and the disclosure is procedural in nature.