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<h1>Central Goods and Services Tax Act: Amendments to Schedule III on Insurance Services Effective November 1, 2024</h1> In the Central Goods and Services Tax Act, Schedule III is amended to include new provisions regarding insurance services. Paragraph 9 addresses the apportionment of co-insurance premiums by the lead insurer to co-insurers in joint insurance agreements, requiring the lead insurer to pay all applicable taxes on the total premium. Paragraph 10 pertains to services provided by insurers to reinsurers, where a ceding commission is deducted from the reinsurance premium. It mandates that the reinsurer pays all applicable taxes on the gross reinsurance premium, including the ceding commission. These amendments take effect on November 1, 2024.