LIC Receives Demand Order for GST and Penalty from Jamshedpur Authorities
The Life Insurance Corporation of India (LIC) has received a demand order concerning Goods & Service Tax, interest, and penalty from the Additional Commissioner Central GST & Central Excise in Jamshedpur. The order was received on July 30, 2026.The communication pertains to alleged contravention regarding the Pre-Mature Availment of Input Tax Credit on Reverse Charge Mechanism. The matter is appealable before the Commissioner (Appeals), Jamshedpur.
Details of the tax demand and related violations are as follows:
| Financial Component | Amount / Details |
|---|---|
| GST Demand | INR 99,09,87,896/- |
| Penalty | INR 9,90,98,790/- |
| Interest | As Applicable |
The demand order relates to Goods and Service Tax for the Financial Year 2022-23.
Regarding its operations and financial standing, the Corporation stated that while the financial impact of the demand includes the GST amount, interest, and penalty, there is no material impact on the financials, operations, or other activities of LIC.
LICI Stock Price Movement
Life Insurance Corporation Of India (LICI) shares today slipped by 0.07% to settle at ₹422.85, following a slight decline from its previous close. The stock traded within the day's range, with 1.64 million shares exchanged in post-market trading.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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