Life Insurance Corporation of India announced that it has received communication/demand order for Goods & Service Tax, Interest and penalty for Telangana State. The order is appealable before the Appellate Joint Commissioner (ST), Hyderabad Rural Division. Name of the authority(s): Deputy Commissioner, Warangal, STU2:Warangal, Telangana Nature and details of the action(s): Demand of GST, interest and penalty notice for F.Y. 2019-20: GST - INR 10,107,210.

Interest - INR 1,140,120,997. Penalty - INR 126,680,111. Date of receipt of communication from the authority: May 09, 2024.

Details of the violation: Supplementary Demand of IGST, Interest & Penalty including interest and penalty not levied on earlier order vide Ref.: ZD360823001375K dated August 1, 2023 for which appeal is already filed with the Appellate Joint Commissioner (ST), Hyderabad Rural Division.