LIC appeals GST demand of over ₹116 Crore, Legal News, ET LegalWorld
Highlights Life Insurance Corporation of India filed an appeal on November 27, 2024, against a Goods and Service Tax order demanding ₹1,04,90,26,891 for the financial year 2019-20. The order, issued by the Joint Commissioner in Chennai, includes an interest charge of ₹45,53,450 and a penalty of ₹11,03,20,611 due to excess Input Tax Credit availed and […]
LIC appeals GST demand of over ₹1.8 Crore, Legal News, ET LegalWorld
Life Insurance Corporation of India has filed an appeal before the Commissioner (Appeals), Karnataka State against the order issued by the Deputy Commissioner, Karnataka, according to the exchange filing. The appeal has been filed against the order demanding GST of ₹1,83,32,790/-, interest of ₹1,79,19,690/-, and penalty of ₹18,33,280/- for FY 2019-20. The demand order relates […]
LIC appeals GST demand of ₹29.6 Lakh for FY 2019-20, Legal News, ET LegalWorld
Life Insurance Corporation of India has filed an appeal with the GST Appellate Authority, Delhi against the order issued by Sales Tax Officer Class II, Delhi, according to the exchange filing. The Appeal has been filed against the order demanding GST of ₹29,60,396/- for FY 2019-20 along with interest of ₹23,09,110/- and penalty of ₹2,96,039/-. […]
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 […]
LIC ordered to pay Rs 50 lakh compensation for COVID-19 policy premium payer’s family, ET LegalWorld
A district-level consumer disputes commission in Kerala has ordered Life Insurance Corporation (LIC), India’s largest insurer, to pay Rs 50 lakh in compensation to the family of a policy premium payer who succumbed to COVID-19, citing the insurer’s technical lapse. The commission fined LIC Rs 50 lakh for violating its own guidelines, which require policy […]