TMI BlogRegularizing payment of GST on co-insurance premium apportioned by the lead insurer to the co-insurer and on ceding /re-insurance commission deducted from the reinsurance premium paid by the insurer to the reinsurerX X X X Extracts X X X X X X X X Extracts X X X X ..... t of Revenue (Tax Research Unit) North Block, New Delhi Dated the 28th of January, 2025 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioners of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Regularizing payment of GST on co-insurance premium apportioned by the lead insurer to the co-insurer and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er for the insurance services jointly supplied by the lead insurer and the co-insurer to the insured in co-insurance agreements, subject to the condition that the lead insurer pays the Central tax, the State tax, the Union territory tax and the integrated tax on the entire amount of premium paid by the insured. b) Services by insurer to the reinsurer for which ceding commission or the reinsuranc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... GST Act, , on 'as is where is' basis. 4. Thus, as recommended by the 53rd GST Council, the payment of GST on the activities or transactions specified in paragraph 2 above is regularized for the period 01.07.2017 to 31.10.2024, on 'as is where is' basis. 5. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Board. Yours sincerely, (Sachin Jain) Joi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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