LIC Housing Finance Limited has received a communication regarding a demand for Goods & Service Tax (GST) and a penalty in Jharkhand. The total demand and penalty amount to ₹92,05,480.00 (clubbed for the years). The order is appealable before the Commissioner (Appeals), Ranchi, Jharkhand. The company believes the financial impact is limited to the extent of the GST and penalty, with no other material impact on operations.
GST Demand and Penalty Notice
LIC Housing Finance Limited has received a demand for Goods & Service Tax (GST) and a penalty notice related to its operations in Jharkhand. The communication was received on December 29, 2025, at 11:56 AM.
Details of the Demand
The demand and penalty notice pertains to the financial years 2018-19 to 2022-23. The details are as follows:
- GST: Rs. 43,65,487.00 (clubbed for the years)
- Penalty: Rs. 48,39,993.00 (clubbed for the years)
- Total: ₹92,05,480.00
Nature of the Issue
The alleged violations or contraventions relate to:
- Determination of tax not paid or short paid.
- Excess availment of ITC (Input Tax Credit).
Impact Assessment
According to the company’s assessment, the financial impact is limited to the extent of the GST and penalty. The company states that there is no material impact on operations or other activities.
Source: BSE
