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India Pursues Insurance, Gaming Firms Over Alleged Tax Evasion

September 28, 2023

Indian authorities sent a $208 million tax demand to a private insurer, the latest in a growing list of firms slapped with similar notices as the government intensifies its crackdown on alleged evasion.

ICICI Lombard General Insurance Co. Ltd. received the notice for alleged non-payment of goods and services tax, it said in a stock exchange filing late Wednesday. Similar orders have been issued to several others, including major gaming companies, totaling more than 500 billion rupees ($6 billion).

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