HDFC Life Insurance Company Limited received a GST order from Joint Commissioner, CGST & Central Excise, Thane Commissionerate, Maharashtra on June 27, 2024. The order will have no adverse material impact on the financial operations of the Company and the same shall be further contested by way of an appeal before the Appellate Authority. Nature and details of the action(s) taken initiated or order(s) passed: Nature GST Order, Period involved July 1,2017 to March 31, 2022, Tax demand INR 1,327.0 million, Interest: As applicable and Penalty INR 1,327.0 million.

Details of the violation(s)/contravention(s) committed or alleged to be committed: Allegation: Deduction of amount towards GST from commission paid to the insurance agents wrongfully recovered, and hence should be deposited with the Government. The said order is appealable before the Appellate Authority. The Company will file its appeal within the specified period.