The Life Insurance Corporation of India (LIC) announced on Tuesday that tax authorities have issued a demand notice of approximately ₹101.95 crore for the shortfall in Goods and Services Tax (GST) payments over five financial years.
In a regulatory filing, LIC stated that it received a notice covering GST, interest, and penalties across multiple states. The demand pertains to the financial years from 2017-18 to 2021-22.
The order can be challenged before the Commissioner (Appeals) in Thane. LIC clarified that while the notice involves financial liabilities, it does not significantly impact the corporation’s overall financial health, operations, or activities.
