From online gaming firms to even the country's largest insurance company, no entity seems out of bounds from the Goods and Services Tax (GST) regime, with a flurry of notices over the last few weeks sending Indian companies scampering. And the notices are not for recent matters either.

Sample the following: on September 29, Maruti Suzuki was served a demand for Rs 2,160 crore pertaining to 2019-20. A few days later, Life Insurance Corporation of India was told to cough up Rs 36,844 crore for collection of GST dues, penalty and interest. Also caught in the net earlier this year were a few other insurance companies, among others.

Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs (CBIC), has explained the increase in the number of notices as being mostly due to an approaching deadline.

“…in the month of September, the time period in which show cause notices could be issued for the year 2017-18 was getting over. So therefore, the investigations have been concluded by the department, and that might have led to a higher number of show cause notices being issued in September,” Agarwal said.

Source: Money Control
https://www.moneycontrol.com/news/business/economy/tax-terror-or-deadline-rush-shower-of-gst-notices-may-not-end-soon-11642901.html