SBI Life Receives GST Order for ₹70.88 Lakh Demand; Plans Appeal
SBI Life Insurance Company Limited has received an order under Section 73 of the SGST and CGST Act 2017 from the Deputy Commissioner (ST) - III Large Tax Payers Unit, Chennai. The communication, recei...
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Why is SBI Life Insurance Company Limited in the news today?
SBI Life Insurance Company Limited (SBILIFE) is in the news due to the company has received a tax demand order from the gst authorities, which is a negative development.
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SBI Life Receives GST Order for ₹70.88 Lakh Demand; Plans Appeal
December 29, 2025, 05:03 PM
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SBI Life Insurance Company Limited has received an order under Section 73 of the SGST and CGST Act 2017 from the Deputy Commissioner (ST) - III Large Tax Payers Unit, Chennai. The communication, received on December 29, 2025, at 03:27 PM, pertains to a demand related to the reversal of Input Tax Credit (ITC) under Section 17(5) of the CGST Act, 2017, for the Financial Year 2021-2022.
The order includes a tax demand of ₹40,15,294, interest of ₹26,71,216, and a penalty of ₹4,01,530, totaling ₹70,88,040.
The company has indicated its intention to file an appeal against this order before the appropriate appellate authority in accordance with the applicable provisions of the Goods and Service Tax Act.
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