The Life Insurance Corporation of India (LIC) has received a Goods and Services Tax (GST) demand order accruing to nearly Rs 37,000 for paying taxes at 12 per cent instead of 18 per cent for some invoices during the assessment year 2019-2020.
The state taxes officer in Srinagar has charged the company with a GST of Rs 10,462, penalty amounting to Rs 20,000 and interest of Rs 6,382, aggregating to Rs 36844.
