Life Insurance Corporation of India (LIC) has received orders from GST authorities pertaining to the collection of GST, interest, and penalties for the states of Telangana, Maharashtra, and Delhi. The total amount aggregates to ₹57.51 Crores. LIC will be appealing these orders with the appropriate appellate authorities. The notice dates were received on December 30-31, 2025.
GST Order Details
Life Insurance Corporation of India has been served orders related to GST collections, interest, and penalties from GST authorities in Telangana, Maharashtra and Delhi. The corporation plans to appeal the orders within the stipulated time frames.
Financial Implications
The demand pertains to GST, interest, and penalties totaling ₹6,39,55,690 (Delhi), ₹1,95,79,778 (Telangana) and ₹49,15,84,370 (Maharashtra).
The following table contains the details regarding the aforementioned GST order:
| State | Details | FY | GST (₹) | Interest (₹) | Penalty (₹) | Total (₹) |
|---|---|---|---|---|---|---|
| Telangana | Short payment of Tax and Input Tax Credit (ITC) wrongly Claimed | 2021-22 | 1,77,99,889 | As Applicable | 17,79,889 | 1,95,79,778 |
| Maharashtra | Short payment of Tax and Input Tax Credit (ITC) wrongly Claimed | 2021-22 | 36,17,37,404 | 6,33,28,461 | 6,65,18,505 | 49,15,84,370 |
| Delhi | Input Tax Credit (ITC) wrongly Claimed | 2021-22 | 3,60,78,988 | 2,42,68,804 | 36,07,898 | 6,39,55,690 |
Source: BSE
