Latest News | LIC Gets GST Demand Notice of Rs 101.95 Crore
Get latest articles and stories on Latest News at LatestLY. 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.
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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)