Chennai tax officials issue a Rs. 663 crore GST demand notice to LIC

The Life Insurance Corporation of India (LIC) stated on Wednesday, 3 January 2024, that tax authorities have issued a demand notice amounting to approximately Rs 663.45 crore, citing short payment of Goods and Services Tax (GST). The communication, including the demand order for interest and penalty, originated from the Officer of the Commissioner of CGST and Central Excise, Chennai North Commissionerate, on 1 January 2024, as reported in a regulatory filing by LIC.