Life Insurance coverage Company of India (LIC) on Wednesday mentioned it has acquired a requirement discover of about Rs 105.42 crore for brief cost of Items and Companies Tax (GST) for seven monetary years.
The corporate has acquired a communication/demand order for curiosity and penalty for a number of states on February 5, LIC mentioned in a regulatory submitting.
The order is appealable earlier than the Commissioner (Appeals), Lucknow, it mentioned.
The demand discover pertains to seven monetary years between 2017-18 and 2023-24, it mentioned.
The monetary affect of the demand is to the extent of the GST, curiosity and penalty. There is no such thing as a materials affect on financials, operations or different actions of the company, it mentioned.
