The Directorate General of GST Intelligence (DGGI), Gurugram, conducted a search at a subsidiary of PB Fintech Limited on January 13, 2025, as disclosed in the company’s stock exchange filing. However, the filing did not specify which of its brand offices was raided.
PB Fintech, known for flagship brands such as Policybazaar and Paisabazaar, specializes in offering financial products and advisory services within the online insurance and lending markets.
The company has stated that it has provided the required information to GST officials and is prepared to cooperate further, should additional details be requested by the department.
In its filing, the company emphasized that the raid has had no impact on its operations. It noted: “At this point in time, there is no impact on the financial operations or other activities of the Company.”
Tax evasion has become an increasingly pressing issue in the digital era, particularly with the introduction of new age financial products. In response, the DGGI has intensified efforts over the years to tackle the problem and ensure compliance.
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