LIC gets GST demand orders of ₹57 crore across Telangana, Maharashtra and Delhi

State-owned life insurance behemoth Life Insurance Corporation of India Ltd on Wednesday (December 31) disclosed that it has received GST demand orders for the collection of GST, interest and penalty for Telangana, Maharashtra and Delhi for FY2021–22.

The corporation said it will file appeals before the appellate authorities of the respective states within the prescribed timelines. LIC added that the financial impact of the demand is limited to GST, interest and penalty, and there is no material impact on its operations or other activities.

In Telangana, the office of the assistant commissioner (ST), Ramgopalpet-Ranigunj-I circle, Begumpet division, Hyderabad, issued an order dated December 30, 2025, citing short payment of tax and input tax credit wrongly claimed.

Also Read: LIC Housing Finance cuts home loan rates to start from 7.15%

The demand comprises GST of ₹1.78 crore, penalty of ₹0.18 crore and applicable interest, taking the total demand to ₹1.96 crore. The order is appealable before the joint commissioner (ST) (appeals), Hyderabad. The notice came to the corporation’s knowledge on December 30, 2025.

In Maharashtra, the deputy commissioner of state tax, Mumbai North East, issued an order for short payment of tax and input tax credit wrongly claimed. The demand includes GST of ₹36.17 crore, interest of ₹6.33 crore and penalty of ₹6.65 crore, aggregating to ₹49.16 crore. The order is appealable before the joint commissioner, state tax (appeals), Mumbai, and came to LIC’s knowledge on December 31, 2025.

In Delhi, the deputy commissioner of GST issued an order for input tax credit wrongly claimed. The demand comprises GST of ₹3.61 crore, interest of ₹2.43 crore and penalty of ₹0.36 crore, taking the total to ₹6.40 crore. The order is appealable before the commissioner (appeals), Delhi, and was received by the corporation on December 31, 2025.

Also Read: R Doraiswamy takes charge as LIC’s new MD & CEO

The cumulative GST, interest and penalty demand across the three states stands at about ₹57.52 crore.

Shares of Life Insurance Corporation of India Ltd ended at ₹855.10, up by ₹0.69, or 5.85%, on the BSE today, December 31.