Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 116 crore on it for short payment of Goods and Services Tax (GST) for 2017-18.
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The company received a communication/demand order for interest and penalty for Telangana state on January 2, LIC said in a regulatory filing.
The corporation shall file an appeal before Joint Commissioner (ST), Hyderabad Rural Division against the said order within the prescribed timelines, it said.
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There is no material impact on financials, operations, or other activities of the corporation, it added.
The demand for Telangana came a day after LIC on Monday received a similar notice demanding about Rs 806 crore for short payment of GST for 2017-18 along with interest and penalty for Maharashtra.
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