NEW DELHI: Life Insurance Corporation of India (L.I.C.) today said tax authorities have slapped a demand notice of about Rs 178 crore on it for short payment of Goods and Services Tax (G.S.T.) for two financial years.
The company has received a communication/demand order for interest and penalty from the Additional Commissioner, Central G.S.T. & Central Excise Jamshedpur, L.I.C. said in a regulatory filing.
The demand notice is for pre-mature availment of Input Tax Credit on reverse charge mechanism, it said.
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