Life Insurance Corporation receives GST demand notice of Rs 65 crore

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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.

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.

Besides, there is a penalty of Rs 6.5 crore and interest as applicable.

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Category: BusinessFinance

Markets: India

Topics: Demand notice Life Insurance Corporation of India GST LIC Goods and Services Tax

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 21:43:57 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 158 words

Reading Time: 1 minutes read

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News ID: 23340710

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