Latest News | LIC Gets GST Demand Notice of Rs 105 Crore

New Delhi, Feb 4 (PTI) Life Insurance Corporation of India (LIC) on Wednesday said it has received a demand notice of about Rs 105.42 crore for short payment of Goods and Services Tax (GST) for seven financial years.

The company has received a communication/demand order for interest and penalty for several states on February 5, LIC said in a regulatory filing.

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The order is appealable before the Commissioner (Appeals), Lucknow, it said.

The demand notice pertains to seven financial years between 2017-18 and 2023-24, it said.

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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)