'It is to inform that the Life Insurance Corporation of India has received demand order for Goods & Service Tax, Interest and penalty for Haryana State.'
LICI · price
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Awaiting price reaction for this filing.
Life Insurance Corporation of India (LIC) has received a demand order from tax authorities covering Goods & Service Tax (GST), along with applicable interest and penalty, specifically for the state of Haryana. The order has been issued against the insurer, though the exact financial amount of the demand has not been disclosed in the filing. This is a state-level tax compliance matter rather than a central regulatory action. Investors will need to wait for further details on the quantum and whether LIC intends to contest or pay the demand.
The lack of disclosed amount makes it hard to gauge the financial hit, but any GST demand with interest and penalty could pressure short-term expenses for LIC. Shareholders should watch for follow-up disclosures on the demand value and LIC's response, as material tax liabilities can affect earnings.