Quick Summary
The DGGI has uncovered significant GST violations by insurance companies, revealing that many have failed to pay GST on services provided to employees in Special Economic Zone (SEZ) units. According to Anil Kumar Gupta, Principal DG of DGGI, these services are not exempt from GST, and companies fail
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FAQ :
The DGGI has uncovered a collective GST liability of approximately Rs 20,000 crore for the general insurance sector.
The primary violation involves insurance companies failing to pay GST on services provided to employees within Special Economic Zone (SEZ) units.
No, according to the Principal DG of DGGI, Anil Kumar Gupta, these services are not exempt from GST.
Following investigations, the DGGI has issued notices to the insurance companies that have not complied with GST rules.
No, Anil Kumar Gupta pointed out that this specific issue was not addressed in the recent clarifications for the insurance sector issued during the 53rd GST Council meeting.
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