SBI Life Faces Rs 239 Crore GST Demand
Aug 22, 2024 22:16
SBI Life received a GST demand notice of Rs 239.27 crore for FY 2019-20, related to short payment on premium and input credit. The company is contesting the demand.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Aug 22 (PTI) SBI Life on Thursday said tax authorities have slapped a demand notice of about Rs 239.27 crore on it for short payment of Goods and Services Tax (GST) for the financial year 2019-20.
The company has received an order for interest and penalty from the Deputy Excise & Taxation Commissioner, Rohtak, Haryana, SBI Life said in a regulatory filing.
The demand notice pertains to the investment/saving portion of the premium and Input Credit availment, it added.
The authority has raised a demand for GST along with the applicable interest and penalty for FY 2019-2020, it added.
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