LIC Gets Rs 3,529 Crore GST Demand Notice From Mumbai Tax Authority

LIC Gets Rs 3,529 Crore GST Demand Notice From Mumbai Tax Authority

Life Insurance Corp. has received a Goods and Services Tax demand notice of Rs 3,529 crore from the tax authorities in Mumbai.The notice will not impact the finances or other operations of the company, it said in its exchange filing on Thursday. It will file an appeal before the Commissioner of Income Tax. On Jan. 5, the insurance company had received a demand notice of Rs 382 crore from the tax authorities of Gujarat for GST collection, along with interest and penalties for FY18 and FY19.On…
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Source: https://www.ndtvprofit.com/amp/law-and-policy/lic-gets-rs-3529-crore-gst-demand-notice-from-mumbai-tax-authority