HDFC Life Insurance Company Limited received GST Orders from the Assistant Commissioner of State Tax (INV-6), Investigation-A, Mumbai, Maharashtra (two separate Orders) on December 31, 2024, according to the company’s exchange filing.
The order levied a tax demand and interest of ₹ 152.87 crore and ₹ 117.71, respectively, for the period from April 1, 2020, to March 31, 2021.
The allegation relates to the short reversal of proportionate input tax credit on common services attributable to exempted supplies and the Excess availment of input tax credit under the reverse charge mechanism.
The Company is likely to appeal the order challenging the GST order.”The said order is appealable before the Appellate Authority. The Company will file its appeal within the specified period,” HDFC Life Insurance said in the exchange filing.
The disclosure to the exchange was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
