<p>New Delhi: <a href="https://www.deccanherald.com/tags/lic">Life Insurance Corporation of India</a> (LIC) on Monday said tax authorities have slapped a demand notice of about Rs 57.2 crore on it for excess Input Tax Credit (ITC) availed for the financial year 2020-21.</p>.<p>The company has received a communication/demand order on Monday from Assistant Commissioner, Delhi regarding excess ITC availed, LIC said in a regulatory filing.</p>.LIC launches smart pension plan.<p>The financial impact of the demand is to the extent of the GST (Rs 31,04,35,201), Interest (Rs 23,13,21,002) and Penalty (Rs 3,10,43,519), it said.</p>.<p>There is no material impact on financials, operations or other activities of the corporation, it added. </p>
<p>New Delhi: <a href="https://www.deccanherald.com/tags/lic">Life Insurance Corporation of India</a> (LIC) on Monday said tax authorities have slapped a demand notice of about Rs 57.2 crore on it for excess Input Tax Credit (ITC) availed for the financial year 2020-21.</p>.<p>The company has received a communication/demand order on Monday from Assistant Commissioner, Delhi regarding excess ITC availed, LIC said in a regulatory filing.</p>.LIC launches smart pension plan.<p>The financial impact of the demand is to the extent of the GST (Rs 31,04,35,201), Interest (Rs 23,13,21,002) and Penalty (Rs 3,10,43,519), it said.</p>.<p>There is no material impact on financials, operations or other activities of the corporation, it added. </p>