{"id":38580,"date":"2024-01-09T18:51:48","date_gmt":"2024-01-09T18:51:48","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities"},"modified":"2024-01-10T18:16:45","modified_gmt":"2024-01-10T18:16:45","slug":"lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities","title":{"rendered":"LIC faces \u20b9382 crore GST demand from Gujarat tax authorities"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Life Insurance Corporation of India confronts GST demand from Gujarat tax authorities for fiscal years 2017-18 and 2018-19, covering dues, penalties, and interest.<\/p>\n

Insurance behemoth Life Insurance Corporation of India (LIC) has received a GST-related demand order for \u20b9 382 crore from the tax authorities of Gujarat.<\/p>\n

The demand notice covers GST dues of \u20b9 191 crore and a penalty of \u20b9 191 crore besides applicable interest, according to an exchange filing by LIC. The demand, penalty and interest have been levied for FY\u20192017-18 & 2018-19.<\/p>\n

The LIC has said there is no material impact on the Corporation\u2019s financials, operations, or other activities from this demand order.<\/p>\n

LIC would file an appeal before the Commissioner (appeals), Ahmedabad, against the said order within prescribed timelines, the life insurer added in the filing.<\/p>\n

Meanwhile, LIC\u2019s Mauritius Branch has received a demand order for a penalty from the Mauritius Revenue Authority for Mauritius Rupees \u20b95,000 (about \u20b99,500). The Mauritius branch has filed a representation with the Mauritius Revenue Authority to waive the penalty. The demand of penalty was levied for FY2018 to 2022 for non-compliance with income tax (common reporting standard) Regulations 2018 of Mauritius.<\/p>\n

On January 3, LIC received a combined demand order of \u20b9667.5 crore from tax authorities in Tamil Nadu, Uttarakhand and Gujarat. Tamil Nadu\u2019s GST demand was for \u20b9 663.45 crore, Uttarakhand\u2019s tax authority had asked for \u20b94.28 crore, and Gujarat\u2019s tax authority had put a tax demand of \u20b939.39 lakh.<\/p>\n

LIC had on January 1 received another GST demand order to the tune of \u20b9806.3 crore from tax authorities in Maharashtra.<\/p>\n

On Friday, Shares of LIC closed in BSE at \u20b9 844.4 per share, up \u20b98.80 over the previous day\u2019s close.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Life Insurance Corporation of India confronts GST demand from Gujarat tax authorities for fiscal years 2017-18 and 2018-19, covering dues, penalties, and interest. Insurance behemoth Life Insurance Corporation of India (LIC) has received a GST-related demand order for \u20b9 382 crore from the tax authorities of Gujarat. The demand notice covers GST […]<\/p>\n","protected":false},"author":84,"featured_media":38579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,245,241],"class_list":["post-38580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nLIC faces \u20b9382 crore GST demand from Gujarat tax authorities - Mauritius<\/title>\n<meta name=\"description\" content=\"Life Insurance Corporation of India confronts GST demand from Gujarat tax authorities for fiscal years 2017-18 and 2018- ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-\u20b9382-crore-gst-demand-from-gujarat-tax-authorities\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LIC faces \u20b9382 crore GST demand from Gujarat tax authorities\" \/>\n<meta property=\"og:description\" content=\"Life Insurance Corporation of India confronts GST demand from Gujarat tax authorities for fiscal years 2017-18 and 2018- ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-\u20b9382-crore-gst-demand-from-gujarat-tax-authorities\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-09T18:51:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-10T18:16:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/01\/sm_1704814340.529104.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"LIC faces \u20b9382 crore GST demand from Gujarat tax authorities\",\"datePublished\":\"2024-01-09T18:51:48+00:00\",\"dateModified\":\"2024-01-10T18:16:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/01\/sm_1704814340.529104.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/lic-faces-%e2%82%b9382-crore-gst-demand-from-gujarat-tax-authorities\",\"name\":\"LIC faces \u20b9382 crore GST demand from Gujarat tax authorities - 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