LIC gets GST demand order of INR 23.7 bln from Maharashtra
This story was originally published at 18:46 IST on 10 December 2025
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--LIC gets GST demand order of INR 23.7 bln from Maharashtra
NEW DELHI – Life Insurance Corp. of India Wednesday said it has received a demand order for goods and services tax, interest, and penalty, totally amounting to INR 23.7 billion, from the state of Maharashtra. The penalty is for excess input tax credit claimed by LIC during the period from financial year 2021-22 (Apr-Mar) to FY24, according to an exchange filing.
The demand includes GST of INR 13.83 billion, interest of INR 8.50 billion, and penalty of INR 1.38 billion. LIC had reported a net profit of INR 100.53 billion for the September quarter, up 32% on year. Shares of LIC ended slightly lower Wednesday at INR 858.95 on the National Stock Exchange. End
Reported by Shubham Rana
Edited by Rajeev Pai
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