POS - Services in relation to insurance services (within India) [Section 12(13) of IGST Act ] - GST Ready Reckoner - GST

Determination of place of supply of services in relation to insurance services Services in relation to insurance services. [ Section 12(13) of CGST Act 2017 ] S. No. Nature of Supply of services Place of Supply 1. supply of insurance services to (a) If recipient person is registered person (B2B) Location of such person (b) If recipient person is other than a registered person (unregistered person) (B2C) Location of recipient of services on the records of the supplier of services Examples: Example 1:- XYZ Ltd. is registered in Gurgaon, Haryana and gets his assets insured form Ackono Ltd which is insurance company, registered at Ghaziabad, Uttar Pradesh. In this case, the place of supply is the location of recipient of services i.e., Gurgaon, Haryana.. Example 2:- Mr. Ankit is unregistered, reside at Ludhiana, Panjab but he takes an insurance policy for his health from Parimal Insurance Ltd., registered at Delhi. In this case, the place of supply is location of recipient of services on the records of the supplier of services of Mr. Ankit i.e. the address of Mr. Ankit in the records of the Parimal Insurance Ltd.i.e. .Ludhiana, Panjab