LIC Gets Rs 806 Crore GST Demand Notice

LIC received a communication/demand order on Monday for collection of GST along with interest and penalty for Maharashtra state, the insurer said in a regulatory filing. New Delhi: Life Insurance Corporation of India (LIC) on Monday said tax authorities have slapped a demand notice of about Rs 806 crore on it for alleged short payment of GST for 2017 18.

LIC received a communication/demand order on Monday for collection of GST along with interest and penalty for Maharashtra state, the insurer said in a regulatory filing. ( Also Read: Online Scam Preys On Mumbai Senior Citizen, Resulting In Rs 4.4 Lakh Loss ) The insurer shall file an appeal before Commissioner (Appeals), Mumbai against the said order within the prescribed timelines, it said.

( Also Read: New Packaging Rules: Date Of Manufacturing, Unit Sale Price Now Mandatory On All Packages ) There is no material impact on financials, operations, or other activities of the Corporation, it added..