LIC receives GST Demand Notice of Rs. 39.39 Lakh

The Life Insurance Corporation of India (LIC) stated on Tuesday that tax authorities had issued it a GST demand notice for around Rs.39.39 lakh for failing to pay Goods and Services Tax (GST) for 2017-18.

The corporation has filed an appeal against the notice demanding GST of Rs.19,64,584 for FY 2017-18, interest, and a penalty of Rs.19,74,584 before the Commissioner (Appeals), Ahmedabad on March 26, 2024, according to the statement.

In another filing, LIC stated that an appeal has been filed before the Commissioner (Appeals), Dehradun, against the order demanding Rs.3,89,25,914 in GST for 2017-18, as well as interest and a penalty of Rs.38,92,592.