SBI Life Insurance Company Limited announced that it has received an order under Section-73 of the TNGST and CGST Act 2017 from the Deputy Commissioner (CT), LTU­-DC3, Chennai, Tamilnadu, Department of Goods and Services Tax on November 07, 2024. Details of the violation(s) committed or alleged to be committed: Input tax credit of ISD invoice for the month of March 2020 availed in GSTR-3B June 2020. Name and details of the action taken: Deputy Commissioner (CT), LTU­DC3, Chennai, Tamilnadu, Department of Goods and Services Tax has raised a demand of GST along with the applicable Interest and Penalty for fiscal year 2020-2021.

Impact on financial, operation or other activities of the Company, quantifiable in monetary terms to the extent possible: Tax Amount ­ INR 2,760,357. Interest ­ Interest u/s 50 of CGST Act, 2017 (Not quantified). Penalty ­ INR 276,036.

Total Amount ­ INR 3,036,393. The Company shall file an appeal before the Competent Authority/Appellate Tribunal against the said order in accordance with the applicable provisions under Goods and Service Tax Act.