LIC gets GST demand notice of Rs 116 crore

New Delhi, January 02, 2023.

Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 116 crore on it for short payment of Goods and Services Tax (GST) for 2017-18.The company has received communication/demand order for interest and penalty for Telangana state on January 2, LIC said in a regulatory filing.

The corporation shall file an appeal before Joint Commissioner (ST), Hyderabad Rural Division against the said order within the prescribed timelines.