LIC received Rs 382 crore GST notice from Gujarat Tax Department

Life Insurance Corporation (LIC) has received its fourth Goods and Services Tax (GST) demand notice in just one week, this time from the tax authorities of Gujarat. The Rs 382 crore notice seeks outstanding tax, interest, and penalties for FY18 and FY19.

In a filing to the exchange, LIC assured that the demand notice won’t significantly impact its finances or operations. Earlier this week, the insurer received similar notices from Tamil Nadu (Rs 663.45 crore), Uttarakhand (Rs 4.28 crore), and Maharashtra (Rs 806.3 crore).

Despite the flurry of demands, LIC’s shares remained resilient, closing 1.05% higher on the day, compared to a 0.25% increase for the broader Sensex index.

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