LIC receives ₹57.2 crore GST notice from Delhi Government

Life Insurance Corporation of India (LIC) has been issued a ₹57.27 crore Goods and Services Tax (GST) notice by the Delhi State Government. The notice, dated February 24, was disclosed in an exchange filing on Monday.

Breakdown of the GST Demand

The notice, issued by the Assistant Commissioner of Ward 206, Zone 11, Delhi, includes:

₹31.04 crore in GST dues

₹23.13 crore in interest

₹3.10 crore as a penalty

LIC has stated that the order can be appealed before the Commissioner (Appeals) in Delhi.

LIC's Statement on Financial Impact

Despite the significant tax demand, LIC clarified that the notice will not materially affect its financials, operations, or overall business activities.

LIC Share Price Movement

Following the announcement, LIC shares closed 0.69% lower at ₹775.90 on Monday, compared to the previous close of ₹781.30. The disclosure came after market hours.

LIC Stock Performance

52-week high: ₹1,221.50 (August 1, 2024)

52-week low: ₹745.15 (February 17, 2025)

Market capitalization: Over ₹4.90 lakh crore (as of February 24)

Stock decline: Down 6.25% over five years and 25% in the past year

Year-to-date loss: 13.6% in 2025

While LIC shares have struggled over the past year, they have gained 1.7% in the last five trading sessions.

Disclaimer: Investment decisions should be made after consulting certified financial experts.