Max Financial Services Ltd

⚠️ Max Life Insurance Receives GST Notices Totaling ~₹35.29 Crores

- Show Cause Notices received by Axis Max Life Insurance Ltd., a subsidiary of Max Financial Services Ltd.

- Notices received on August 7, 2026, around 17:00 hrs (IST).

- Covers financial years FY 2020-21 to FY 2024-25.

- Allegation relates to wrongful availment and utilization of Input Tax Credit (ITC).

- Proposed total demand of tax, interest, and penalty aggregates to INR ~35.29 Crs.

- Company states it believes it availed eligible ITC in compliance with applicable laws.

- Company is reviewing the notices and will file a response within prescribed timelines.

- No impact on company's operations or other activities stated at this stage.