LIC received a Rs 65 crore GST demand notice for 2017-18 from tax authorities in Jharkhand. The notice includes a penalty and interest. LIC claims no material impact on its operations.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Oct 30 (PTI) Life Insurance Corporation of India (LIC) on Wednesday said tax authorities have slapped a demand notice of about Rs 65 crore on it for short payment of Goods and Services Tax (GST) for 2017-18.
Besides, there is a penalty of Rs 6.5 crore and interest as applicable.
The insurer has received communication/ demand order for Goods & Service Tax, Interest and penalty for Jharkhand on October 30, LIC said in a regulatory filing.
There is no material impact on financials, operations or other activities of the corporation, it added.
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