West Bengal Tax Authority Confirms ₹55 Lakh GST Demand on HDFC Life Insurance Due to Credit Error

The Additional Commissioner of Commercial Taxes, West Bengal has upheld a ₹55 lakh GST demand against HDFC Life Insurance Company Ltd. The GST Appellate Authority confirmed the order issued by the Deputy Commissioner of Revenue.

The demand comprises:

Tax: ₹26,04,168

Interest: ₹26,31,422

Penalty: ₹2,60,416

The issue arose due to an error in calculating common credit and the proportional reversal of the input tax credit for the period July 1, 2017 – March 31, 2018. HDFC Life has stated that it will appeal the decision before the GST Appellate Tribunal within the prescribed period.

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