GST department slaps SBI Life with Rs 239.27 crore notice
On Friday, August 23, 2024, the SBI Life stock performed on a negative bias, and fell as much as 0.69 per cent in early trade after this action, according to the BSE website.
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.
The company has been ordered to pay interest and penalty by the Deputy Excise & Taxation Commissioner, Rohtak, Haryana.
On Friday, August 23, 2024, the SBI Life stock showed a negative bias and fell as much as 0.69 per cent in early trade after this action, according to the BSE website.
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.
SBI Life Stock: Past performance
Over a year, the stock has gained over 38 per cent, outperforming the Nifty50 index. The 50-share index rose 27.75 per cent in the same period while Nifty Financial Services (sectoral index) surged 17.81 per cent.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.