GST probe into insurers widens, 10 more firms to get notices soon

The goods and services tax department has widened the probe against insurance companies for alleged wrongful availment of input tax credit. The Director General of GST Intelligence is likely to serve show cause notices to 10 more insures soon, taking the number of firms under the drive to 30.

“Investigations into 20 insurers are complete and another 10 cases are under probe as of now. Depending on the findings, show cause notices will be sent to the latter too,” said a person familiar with the development. The latest set of notices will be issued on some of the prominent general insurance companies, the source added.

Read more at: FINANCIAL EXPRESS