HDFC Life Insurance Company Ltd on Friday (September 11) said that the Commissioner (Appeals-III), CGST & Central Excise, Mumbai, has confirmed the total Goods and Services Tax (GST) demand, including interest and penalty, in a case involving the period from July 1, 2017 to March 31, 2022.
“This is with reference to the intimation dated February 06, 2025, disclosing the details of the GST Order (Period involved – July 1, 2017 to March 31, 2022, Tax Demand – ₹942.18 crore, Interest as applicable and Penalty – ₹2,422.97 crore) received from the Additional Commissioner, CGST & Central Excise, Palghar Commissionerate, Maharashtra on February 05, 2025,” HDFC Life Insurance Company said in a regulatory filing.
The original order, received in February 2025, involved a tax demand of ₹942.18 crore and a penalty of ₹2,422.97 crore, along with applicable interest.
HDFC Life said it received the appeal order on September 10, 2026. The order confirms the total tax demand, including interest and penalty, as mentioned in the original GST order issued by the Additional Commissioner, CGST & Central Excise, Palghar Commissionerate, Maharashtra.
The company said the order will have no adverse material impact on its financial operations. HDFC Life will further contest the matter by filing an appeal before the GST Appellate Tribunal.
