Tax authorities send Rs 606 crore GST demand notice to LIC

Life Insurance Corporation of India (LIC) has received a demand notice for Rs 605.58 crore from tax authorities for short payment of GST in the financial year 2019-20. The notice, which includes interest and penalties, is appealable. LIC reports no material impact on its financials or operations due to this notice.

Aug 29, 2024 - 22:00

Tax authorities send Rs 606 crore GST demand notice to LIC

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Life Insurance Corporation of India (LIC) has received a demand notice for Rs 605.58 crore from tax authorities for short payment of GST in the financial year 2019-20. The notice, which includes interest and penalties, is appealable. LIC reports no material impact on its financials or operations due to this notice.