HDFC Life Insurance Company Limited has received a GST Order from Deputy Commissioner, Large Taxpayer Unit, Corporate Division, West Bengal on April 24, 2024. Nature and details of the action(s) taken, initiated or order(s) passed: Nature - GST Order. Period involved - April 1, 2018 to March 31, 2019.

Tax demand - INR 160.3 Million. Interest - INR 157.8 Million. Penalty - INR 16.1 Million.

Details of the violation(s)/contravention(s) committed or alleged to be committed; Allegations: Short reversal of Input tax credit on exempted turnover; Short payment of GST output liability as per GSTR 1 and GSTR 3B; and Excess availment of Input tax credit due to mismatch in GSTR3B vs GSTR2A. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: None. Remark: The said order is appealable before the Appellate Authority.

The Company will file its appeal within the specified period.