HDFC Life Insurance Co. receives Rs 27 crore GST demand notice for allegedly underpaying taxes

On Thursday, HDFC Life Insurance Company announced that it has received over Rs 27 crore in GST demand notices for allegedly underpaying taxes. The insurer reported in two different regulatory filings that it had received tax demand notices from authorities for alleged short payments of GST and input tax credit claim mismatches of more than Rs 16.5 crore and Rs 10.5 crore, respectively.

Interest and penalties are often included in the demand orders. The business declared that it will appeal the GST demand orders to the Appellate Authority.