SBI Life, one of the renowned insurance companies, has received a demand notice of approximately Rs 239.27 crore from tax authorities for the underpayment of Goods and Services Tax (GST) for the financial year 2019-20.
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The company has been ordered to pay interest and penalty by the Deputy Excise & Taxation Commissioner, Rohtak, Haryana.
The demand notice pertains to the investment/savings portion of premiums and the input credit availed.
The department has raised a demand for GST along with applicable interest and penalties for FY 2019-2020.
Source: ZEE BUSINESS
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