LIC has received GST demands and orders totaling ₹183 crore for Telangana. The company has stated that the financials will not be affected by this order.
LIC has received GST demand order worth ₹183 crore
On Monday, the Life Insurance Corporation of India (LIC) was issued a GST order for Telangana, imposing interest and penalty amounting to ₹183 crore.
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On Monday, the Life Insurance Corporation of India (LIC) was issued a GST order for Telangana, imposing interest and penalty amounting to ₹183 crore.
“According to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we want to inform you that the Corporation has received a communication/order demanding the collection of GST, including interest and penalty, for the Telangana state. This order can be appealed before the Appellate Joint Commissioner (ST), Hyderabad Rural Division,” stated LIC in its BSE filing.”
The insurer LIC stated in its stock exchange filing that the GST order did not significantly affect the company’s finances, operations, or other activities. On Monday, LIC’s shares ended 0.43% lower at ₹770.45 per share on the BSE.
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