LIC gets GST demand notice of Rs 65 crore, Legal News, ET LegalWorld

Life Insurance Corporation of India (LIC) on Wednesday said tax authorities have slapped a demand notice of about Rs 65 crore on it for short payment of Goods and Services Tax (GST) for 2017-18. Besides, there is a penalty of Rs 6.5 crore and interest as applicable.

The insurer has received communication/ demand order for Goods & Service Tax, Interest and penalty for Jharkhand on October 30, LIC said in a regulatory filing.

There is no material impact on financials, operations or other activities of the corporation, it added.