LIC Receives Rs 2,370 Crore GST Demand

The Life Insurance Corporation of India (LIC) has been asked to pay a lot of money, Rs 2,370.3 crore, for something called GST.

This includes taxes, interest, and a penalty.

The government in Maharashtra says LIC claimed too much tax credit, which is why they have to pay this money.

LIC says this won't affect their work much.

They can also appeal this decision if they want.

Recently, Haryana also asked LIC to pay some GST and a penalty.

LIC's share price has been going down this year.