SBI Life Insurance Company Limited announced it has received an order under Section-73 of the TNGST and CGST Act 2017 from the Deputy Commissioner ST - III, LTU, Chennai, Tamilnadu on April 29, 2024 at 5.40 pm. Please note 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. Name of the Authority: Deputy Commissioner ST - III, LTU, Chennai, Tamilnadu, Department of Goods and Services Tax.

Details of the violation(s) committed or alleged to be committed: Input Credit availed on the Blocked credit under Section 17(5) of the SGST Act. Input tax Credit availed in Next Financial Year. Non-payment of GST for directors sitting fees.

Name and details of the action taken: Deputy Commissioner ST - III, LTU, Chennai, Tamilnadu, Department of Goods and Services Tax. has raised a demand of GST along with the applicable Interest and Penalty for Fiscal Year 2018-2019. Impact on financial, operation or other activities of the Company, quantifiable in monetary terms to the extent possible: Tax Amount -­ INR 10,991,462.

Interest ­- NIL. Penalty ­- INR 1,118,847. Total Amount -­ INR 12,110,309.