LIC faces over Rs.2,370-crore GST demand from Maharashtra

State-run Life Insurance Corporation of India (LIC) said it has been hit with a substantial demand order from the Maharashtra State Tax Department, seeking more than Rs.2,370 crore in GST, interest and penalties for financial years 2021-22 to 2023-24.

According to the exchange filing, the communication was issued by the Deputy Commissioner of State Tax, Chembur, Mumbai, and received by LIC on December 10, 2025.

The demand includes Rs.1,382.52 crore in GST, Rs.849.56 crore in interest, and Rs.138.25 crore in penalties, with authorities alleging that the corporation claimed excess input tax credit (ITC) during the period.

LIC said the order is appealable before the Commissioner (Appeals) in Mumbai and confirmed that while the demand carries significant financial implications, it does not have a material impact on its operations or ongoing activities.

Source : https://www.cnbctv18.com/business/companies/lic-share-price-faces-gst-demand-over-rs-2370-cr-from-maharashtra-says-no-impact-on-operations-ws-el-19787639.htm