LIC vs. Bihar Tax Department: A whopping GST bill of over Rs 290 crore hits LIC. 💰💼 Are they drowning in taxes or is this a fair demand? Join the conversation! 👇🗣️ #LIC #GST #TaxBill #Bihar

LIC receives GST bill of over Rs 290 crore from the Bihar tax department The Life Insurance Corporation of India received a Goods and Services Tax receipt, including interest and penalty, of over Rs 290 crore from the Bihar state tax officials.

In an exchange filing dated September 22, LIC said that the corporation would file an appeal before the GST Appellate Tribunal.

The tax demand is for over Rs 166.75 crore, the interest on this has been cited as over Rs 107.05 crore and the penalty has been shown as Rs 16.67 crore. All of this totals Rs 2,90,49,22,609/-.