Life Insurance Corporation of India (LIC) has received a communication regarding a demand order for Goods & Service Tax (GST), interest, and penalty for Haryana State. The demand pertains to FY 2018-19 to FY 2022-23 and is appealable before the Commissioner (Appeals), Panchkula, Haryana. The total demand includes GST of INR 301,81,981/-, applicable interest, and a penalty of INR 301,81,981/-.
GST Demand Order Received
LIC has received a demand order for Goods & Service Tax, interest, and penalty related to its operations in Haryana. The order is appealable.
Details of the Demand
The demand order originates from the Additional Commissioner, Central Goods and Service Tax Commissionerate, Panchkula, Haryana. It covers the period from FY 2018-19 to FY 2022-23 and includes:
- GST: INR 301,81,981/-
- Interest: As applicable
- Penalty: INR 301,81,981/-
The date of receipt of the communication is December 09, 2025.
Nature of the Issue
The demand relates to a short-reversal of common ITC under Rule 42.
Impact Assessment
The financial impact is limited to the extent of the GST demand, the applicable interest, and the penalty levied. The company states that there is no material impact on its financials, operations, or other activities.
Source: BSE
