GST division raids InsuranceDekho head workplace for alleged tax evasion

InsuranceDekho’s head workplace was raided by the Items and Companies Tax (GST) division on Thursday (January 9).

The Directorate Normal GST Intelligence (DGGI) performed raids on the Gurugram workplace

The replace comes after DGGI issued present trigger notices to varied insurance coverage gamers in April 2023

Delhi NCR-based insurance coverage know-how main InsuranceDekho’s head workplace was raided by the Items and Companies Tax (GST) division on Thursday (January 9), Inc42 has realized from sources near the corporate.

The Directorate Normal of GST Intelligence (DGGI) performed raids on the Gurugram workplace of the startup for alleged tax evasion.

The DGGI officers have barred staff from accessing sure elements of the corporate’s workplace, the sources claimed.

Inc42 additional realized that founder and CEO Ankit Agrawal and different high officers of the startup weren’t current within the workplace on the time of the raid.

Inc42 reached out to CEO Agrawal with DGGI Gurugram to hunt additional particulars on the event. The story can be up to date as soon as a response is obtained.

Insurance coverage Dekho was based because the insurance coverage arm of on-line automobile market CarDekho in 2017 by Agrawal and Ish Babbar. Nonetheless, it was later spun off to perform as a separate unit.

The replace particularly comes after DGGI issued show cause notices to varied insurance coverage gamers in April 2023 – together with insurance coverage know-how majors Go figure and Policy bazaartogether with HDFC Financial institution, amongst others.

On the time, authorities had been mentioned to have detected evasion of INR 2,250 Cr and had been centered on invoices collected from 2018 to March 2022.

The notices reportedly alleged that these corporations issued pretend invoices for a lot of insurance coverage corporations with out offering any service, which is a punishable offense beneath GST norms.

Nonetheless, Inc42 couldn’t verify whether or not the present DGGI investigation pertains to an analogous case.