GST Authority imposes Rs 36,844 penalty on LIC
The corporation has received a communication/demand order for collection of GST, along with interest and penalty for Jammu & Kashmir state, LIC said in a regulatory filing.
![GST Authority imposes Rs 36,844 penalty on LIC](https://cdn.zeebiz.com/sites/default/files/2023/10/11/264519-6gexjoah7zjmnn7uyhw34pfdn4.jpg?im=FitAndFill=(1200,900))
As per the notice dated October 9, 2023, by the State Taxes Officer, Srinagar, LIC paid 12 per cent GST instead of 18 per cent on certain invoices. Image Courtesy: Reuters.