The Life Insurance Corporation of India (LIC) the public sector insurance giant has been served a Rs 57.27 crore goods and services tax (GST) notice by the Delhi State Government. The notice dated February 24 2025 was disclosed in an exchange filing the same day. Life Insurance Corporation of India (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. GST Demand Notice To LIC The demand notice issued by the Assistant Commissioner Ward 206: Zone 11 of Delhi includes Rs 31.04 crore as GST Rs 23.13 crore as interest and Rs 3.10 crore as penalties. “This is to inform that the Life Insurance Corporation of India has received communication/demand order for Goods & Service Tax Interest and penalty for Delhi State. The order is appealable before the Commissioner (Appeals) Delhi” LIC stated in its filing with the Bombay Stock Exchange (BSE). While LIC confirmed the financial implications of the demand the company emphasized that it would not have a material impact on its financials operations or other corporate activities. LIC Share Performance Following the announcement LIC shares closed 0.69% lower at Rs 775.90 on February 24 compared to Rs 781.30 at the previous close. The announcement of the GST notice was made after market hours. Over the past year LIC shares have experienced significant volatility. The stock reached its 52-week high of Rs 1221.50 on August 1 2024 while hitting a 52-week low of Rs 745.15 on February 17 2025. As of February 24 LIC’s market capitalization stood at over Rs 4.90 lakh crore. LIC shares have lost 6.25% over the last five years and have declined by over 25% in the past year. The notice from the Delhi government adds to the challenges faced by LIC which continues to navigate regulatory and market dynamics while striving to maintain investor confidence. (With inputs from PTI)