SBI Life Insurance has confirmed a tax demand of ₹6,19,497 for the financial year 2021-2022, following an order received from the Additional Commissioner of State Tax (Appeal), Patna Special Circle, Bihar, on April 24, 2026.
The order, which was received at 2.57 pm, upholds the tax demand initially issued by the Deputy Commissioner of State Tax, Patna Special Central, Bihar, on December 22, 2025. The demand includes interest of ₹3,80,989 and a penalty of ₹64,697, as per the previous order.
SBI Life Insurance has stated its intention to file an appeal against the order with the Competent Authority or Appellate Tribunal, in accordance with the provisions of the Goods and Service Tax Act. The company has assured that the order will not have any adverse material impact on its financial operations.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).