LIC receives GST demand of around 99 crore plus penalty from Jharkhand authorities

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LICI · price

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Price reactionminutes from the announcement price · days from the prior close

+0.0%Reaction day

₹424.35

prior close

₹426.05

announcement price

After-mkt

timing

Nifty Midcap 150market+1.2%-1.2% vs market

Life Insurance peers, median of 5sector+1.7%-1.7% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Midcap 150 and 1.7 pts less than its Life Insurance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.6

10m

+0.7

15m

+0.8

30m

+0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.0+1.2-1.2+1.7-1.7

Next day

-7.8+0.9-8.7+0.9-8.7

-7.4+1.1-8.5-0.1-7.2

-8.7+0.7-9.4-1.1-7.5

-7.5+1.0-8.4-1.2-6.3

-7.4+1.4-8.8-1.5-5.9

-1.9+1.7-3.6-2.5+0.6

15d

-0.6+1.2-1.8-0.2-0.4

-2.0+0.4-2.4-3.5+1.4

-8.4-6.0-2.4-9.2+0.8

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UpDownMarket · Nifty Midcap 150Sector · Life Insurance peers, median of 5Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

LIC received a GST demand order from the Additional Commissioner Central GST and Central Excise, Jamshedpur for Jharkhand State covering F.Y. 2022-23. The issue is alleged pre-mature availment of Input Tax Credit on Reverse Charge Mechanism. GST demand is around 99.10 crore, penalty around 9.91 crore, plus applicable interest. The order is appealable before the Commissioner (Appeals), Jamshedpur. LIC states there is no material impact on financials, operations or other activities.

Likely market impact

Combined tax demand of about 109 crore plus interest is appealable. LIC says no material impact, but appeal outcome remains worth tracking.