Life Insurance Corporation of India has informed the Exchange regarding 'receipt of demand order for Goods & Service Tax, Interest and penalty for Jharkhand State. The order is appealable before the Commissioner (Appeals), Jamshedpur'.
LICI · price
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Awaiting price reaction for this filing.
Life Insurance Corporation of India (LIC) has received a demand order from the tax authorities for Goods & Service Tax along with interest and penalty specifically for Jharkhand State. The exact demand amount has not been disclosed in this filing. LIC has the option to appeal this order before the Commissioner (Appeals) in Jamshedpur. The company is likely to contest the demand through the appellate process. The stock exchange has been informed as part of standard disclosure obligations.
The financial impact on LIC depends on the final demand amount and the outcome of the appeal. Tax disputes are routine for large corporations and usually do not materially affect share price unless the amount is significant.