HDFC Life Insurance Company Ltd has confirmed a total tax demand of Rs 132.7 crore following an order from the Commissioner (Appeals Thane), CGST & Central Excise, Thane Commissionerate, Maharashtra. The order, received on June 29, 2026, upholds the demand including interest and penalty for the period from July 1, 2017 to March 31, 2022. The company stated that this development will not have a material adverse impact on its financial operations.
The initial demand was received on June 27, 2024, from the Joint Commissioner, CGST & Central Excise, Thane Commissionerate, Maharashtra. The breakdown of the confirmed liability includes the principal tax demand and an equivalent penalty amount. The company intends to challenge the order by filing an appeal before the GST Appellate Tribunal.
Details of the GST Order
The following table outlines the key components of the tax demand confirmed by the appellate authority:
| Component | Amount |
| Tax Demand | Rs 132.7 crore |
| Penalty | Rs 132.7 crore |
| Period Involved | July 1, 2017 to March 31, 2022 |
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015. Nagesh Pai, Company Secretary & Compliance Officer, signed the intimation regarding the matter.
Source from: https://scanx.trade/stock-market-news/companies/hdfc-life-confirms-gst-tax-demand-of-rs-132-7-crore/44366828
