Life Insurance Corporation of India (LIC) has received a communication regarding a demand order for Goods & Service Tax (GST), interest, and penalty for Tamil Nadu State. The order, issued by the Assistant Commissioner, Egmore Division, Chennai North, pertains to F.Y. 2018-19 and 2019-20. The demand includes GST of INR 11,37,256/-, applicable interest, and a penalty of INR 11,37,256/-. The Corporation has the option to appeal the order.
GST Demand Details
LIC has received a demand order concerning Goods & Service Tax (GST) for its operations in Tamil Nadu. The communication was issued by the Assistant Commissioner, Egmore Division, Chennai North.
Financial Year and Components
The demand order pertains to F.Y. 2018-19 and F.Y. 2019-20 and includes the following components:
- GST: INR 11,37,256/-
- Interest: As applicable
- Penalty: INR 11,37,256/-
Violation Details and Impact
The demand is related to Excess ITC (Input Tax Credit) Claimed. LIC states that the financial impact of this demand, considering the GST, interest, and penalty, is not material to its financials, operations, or other activities. The date of receipt of the communication was October 17, 2025, and the Corporation has the option to appeal the order.
Source: BSE
