LUCKNOW, Aug. 20 -- In a fresh bid to step up Goods and Services Tax (GST) collections and resultant stagnant revenue growth, Uttar Pradesh has now turned its focus to insurance companies, following similar sectors such as real estate and mining.
The state tax department has issued notices to all insurance firms registered under the state GST in Uttar Pradesh, seeking replies to around 40 specific queries to verify whether they are depositing the full GST collected from customers on premiums.
For the first time, the department has also set up a dedicated sector at its headquarters under a joint commissioner to examine whether insurance firms are tax-complaint or indulging in any kind of irregularities causing revenue loss to the state e...
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