HDFC Life Insurance Company Limited received GST Order from Proper Officer, Ward - 201, 203, 208 and 209, New Delhi. Nature and details of the action(s) taken, initiated or order(s) passed: Nature - GST Order: Period involved: April 1, 2018 to March 31, 2019; Tax demand: INR 85.1 million, Interest: INR 71.9 million, Penalty: INR 8.512 million. Allegations: Short payment of GST on outward supply due to mismatch in GSTR-9 vs GSTR 1. Excess availment of input tax credit due to mismatch in GSTR 3B vs GSTR2A towards input service distributor (ISD) supplies, regular supplies and reverse charge mechanism (RCM).

Ineligible input tax credit claimed. Short reversal of proportionate input tax credit towards exempt supplies. The said order is appealable before the Appellate Authority.

The Company will file its appeal within the specified period.