News: In an exchange filing, HDFC Life Insurance has informed that the insurer has received a show cause notice in relation to GST demand of Rs 942 crore pertaining to priod from July 2017 to FY22. The insurer further informed that Rs 250 crore has been deposited in the past with regards to the same demand.
Views: Though this is industry issue and the insurer will take appropriate steps and contest the matter. However, given the quantum of demand, uncertainty could keep stock under pressure.
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