Life Insurance Corporation of India (LIC) has filed an appeal before the GST Appellate Authority in Tamil Nadu against a demand order issued by the Joint Commissioner, Chennai, for the financial year 2019-20. The order demanded GST of ₹1,049 crore, along with interest of ₹45.5 lakh and a penalty of ₹110.3 crore.
The company clarified that while the financial impact includes the GST, interest, and penalty, there is no material effect on its financials, operations, or other activities. LIC remains committed to resolving the matter and has made the appeal to seek relief against the demand. Further updates will be shared on the corporation’s website.
