SBI Life Insurance Company Limited has received an order under Section-73 of the WBGST and CGST Act 2017 from the Assistant Commissioner, Large Tax Payer Unit, West Bengal, on April 21, 2024. Name of the Authority: Assistant Commissioner, Large Tax Payer Unit, Corporate Division, West Bengal, Department of Goods and Services Tax. Details of the violation(s) committed or alleged to be committed: Non Reversal of Input Tax Credit as per Rule 42 & 43 of CGST Rules on the exempted Turnover.

Name and details of the action taken: Assistant Commissioner, Large Tax Payer Unit, West Bengal, 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 50,861; Interest -­ INR 46,326; Penalty - INR 30,000; Total Amount- ­ INR 127,187.