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Informative

LIC Receives Rs. 57.28 Crore GST Demand Notice for Excess ITC Availment

Update / Judgement Date

26 Feb 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceGST

LIC has received a GST demand notice for excess ITC availment. This notice highlights the importance of accurate ITC claims. It underscores the need for proper documentation and compliance. This move reflects the authorities' efforts to enforce GST regulations. It emphasizes the need for thorough audits. The demand aims to ensure compliance and recover revenue.