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.
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.
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.
Budget with ET
Tax calculator
The demand notice pertains to seven financial years between 2017-18 and 2023-24, 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.
