Life Insurance Corporation Of India — Important, 14-02-2025: Updates

Life Insurance Corporation of India has received a demand order for Goods & Service Tax (GST), interest, and penalty related to the fiscal year 2020-21 from the Joint Commissioner, Central GST & Central Excise, Jharkhand. The demand totals approximately ₹88.84 crore for GST, with an additional penalty of about ₹8.88 crore. While the order is appealable before the Commissioner (Appeals) in Jharkhand, the corporation notes that there is no material impact on its financials, operations, or other activities due to this demand. Investors should monitor the situation for any potential developments.