LIC received a GST demand notice of Rs 101.95 crore for short payment over five years. The demand includes interest and penalty and is appealable.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Feb 4 (PTI) Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 101.95 crore on it for short payment of Goods and Services Tax (GST) for five financial years.
The company has received a communication/demand order for interest and penalty for several states, LIC said in a regulatory filing.
The order is appealable before the Commissioner (Appeals), Thane, it said.
The demand notice pertains to five financial years between 2017-18 and 2021-22, it said.
The financial impact of the demand is to the extent of the GST, interest and penalty. There is no material impact on financials, operations or other activities of the corporation, it said.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2025 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback