New Delhi: 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.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)