Life Insurance Corporation of India has filed an appeal with GST Appellate Authority, Maharashtra against the order demanding GST of INR 2,476,861,497/- for Fiscal Year 2019-20 along with interest of INR 2,571,229,051/- and penalty of INR 247,725,009/- issued by Deputy Commissioner of State Tax, Mumbai. The financial impact of the demand is to the extent of the GST, Interest and Penalty. There is no material impact on financials, operations or other activities of the Corporation.