SBI Life Insurance Company has received an order confirming a tax demand of ₹5.95 crore, including interest, from the Commissioner (Appeals) in Bhopal, Madhya Pradesh.
The order, received on 13 March 2026, upholds the previous demand issued by the Joint Commissioner of CGST & Central Excise, Bhopal, for the financial year 2019-2020. This demand includes a penalty of ₹59.94 lakh. Despite the confirmation of the tax demand, SBI Life Insurance has stated that it will file an appeal before the Competent Authority or Appellate Tribunal under the Goods and Service Tax Act. The company has assured stakeholders that this order will not have an 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).