LIC Gets Rs 806.3 Crore GST Demand Notice From Maharashtra Tax Authorities

The Life Insurance Corporation of India received a demand order for Rs 806.3 crore from the Maharashtra tax authorities.

The demand notice was sent to the insurance company for the collection of goods and services tax along with interest and penalties for the state of Maharashtra, according to an exchange filing on Monday.

Further, the notice will not impact the finances or other operations of the company, the filing said.

Shares of LIC closed 2.94% higher at Rs 857 apiece, compared to a 0.05% rise in the benchmark NSE Nifty 50.