Insurers battle GST demands over unpaid tax, showcause notices worth Rs 7,000 crore served

The taxman and the insurance companies are heading for a showdown over GST dues. Analysts anticipate litigations over a host of issues relating to the allegations of unpaid tax. Showcause notices of over Rs 7,000 crore have already been issued to insurance companies by the Directorate General of GST Intelligence and more companies are under the radar. Government-owned insurance companies have also…