SBI Life Insurance received an order under Section-73 of the TNGST and CGST Act 2017 from the Deputy Commissioner (CT), Tamilnadu on November 7, 2024.
The authority has raised a demand for GST along with the applicable Interest and Penalty for FY 2020-2021.
The order demands ₹ 27,60,357/- with interest u/s 50 of CGST Act,2017, and a penalty of ₹ 2,76,036/-.
The tax authorities have issued the order on the grounds of availing input tax credit of ISD invoice for the month of March 2020 in GSTR-3B June 2020.
The Life Insurance company shall be filing an appeal before the Appellate Tribunal against the said order under the Goods and Service Tax Act.
