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LIC Receives GST Demand for FY 2019-20 in Himachal Pradesh – Financial Impact Minimal

Life Insurance Corporation of India (LIC) receives GST demand of ₹17.9 lakh for FY 2019-20 in Himachal Pradesh, including interest and penalty. LIC confirms no material impact on operations.
LIC Receives GST Demand for FY 2019-20 in Himachal Pradesh – Financial Impact Minimal

Mumbai, 9 March 2026: Life Insurance Corporation of India (LIC) has received a communication regarding a Goods & Services Tax (GST) demand, along with interest and penalty, for the financial year 2019-20 from the Deputy Commissioner, State Taxes and Excise, Parwanoo, Himachal Pradesh.

The demand includes:

  • GST: ₹17,90,956

  • Interest: ₹27,22,254

  • Penalty: ₹17,90,956

 

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The order relates to the non-reversal of Input Tax Credit (ITC) on exempted supply. LIC has clarified that the matter is appealable before the Commissioner (Appeals), Shimla, Himachal Pradesh, and there is no material impact on the Corporation’s financials, operations, or other activities.

LIC has confirmed that the disclosure has been submitted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the full intimation is available on the company’s official website at www.licindia.in.

This disclosure reflects LIC’s transparency in reporting regulatory matters while reaffirming its robust financial and operational stability.

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