SBI Life Insurance Company Limited announced it has received an order under Section-73 of the TGGST and CGST Act 2017 from the Assistant Commissioner, Ameerpet GST Division, Hyderabad, Telangana on April 29, 2024 at 3.38 pm. Please note the Company shall file an appeal before the Competent Authority/Appellate Tribunal against the said order in accordance with the applicable provisions under Goods and Service Tax Act. Details of the violation(s) committed or alleged to be committed: Input Credit availed on the Blocked credit under Section 17(5) of the SGST Act.

Input Tax Credit availed from cancelled dealers, Return Defaulters & Tax non payers. Name and details of the action taken: Assistant Commissioner, Ameerpet, GST Division, Hyderabad, Telangana, has raised a demand of GST along with the applicable Interest and Penalty for Fiscal Year 2018-2019. Impact on financial, operation or other activities of the Company, quantifiable in monetary terms to the extent possible: Tax Amount ­ INR 378,750.

Interest ­ NIL. Penalty ­ INR 37,874. Total Amount ­ INR 416,624.