HDFC Life Insurance Company Limited, on June 30, 2026, disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, to the National Stock Exchange of India Limited and BSE Limited, that it received an Order from the Commissioner (Appeals Thane), CGST & Central Excise, Thane Commissionerate, Maharashtra on June 29, 2026. The disclosure was authorized by Nagesh Pai, the Company Secretary and Compliance Officer of HDFCLIFE.
HDFCLIFE had previously intimated on June 28, 2024, about a GST Order from the Joint Commissioner, CGST & Central Excise, Thane Commissionerate, Maharashtra, received on June 27, 2024, for the tax period from July 1, 2017 to March 31, 2022. The original Order was issued under the Central Goods and Services Tax Act, 2017, and related rules.
The tax demand specified in the original GST Order was Rs 132.7 crore. Interest as applicable and penalty on this demand also amounted to Rs 132.7 crore, as per the company's filing with the Exchange.
HDFCLIFE had appealed against this original Order to the Commissioner (Appeals Thane), and the Order on June 29, 2026, confirms the total tax demand including interest and penalty as per the earlier GST Order. This confirmation is part of the appellate process within the GST department, and the Order was received after a period of approximately two years.
The company stated that the Order will have no adverse material impact on the financial operations of HDFCLIFE. HDFCLIFE will further contest this Order by way of an appeal before the GST Appellate Tribunal, which is the statutory appellate authority for GST matters in India.
This disclosure is made as per the requirements of Regulation 30 of the SEBI Listing Regulations, which mandates listed companies to disclose material events to the stock exchanges for the information of shareholders and investors.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.