New Delhi: Life Insurance Corporation of India (LIC) has received a demand notice of Rs 101.95 crore from the tax department for less payment of Goods and Services Tax (GST) for the last five years. LIC said in regulatory filing that the company has received demand notices including interest and fine from various states. The company has said that this order is under the appeal before Thane Commissioner (Appeal). These demand notices belong to a five-year period between the year 2017-18 to 2021-22. The financial impact of which will be equal to the demand for GST, interest and fine. This will not affect the operation and other activities of the company.
