GST AMENDMENT from 18.7.2022

[Palanisamy Rajendiran]

Sir

As per the notification wef 18.7.2022 postal life insurance premium payable is omitted from RCM. But the Department of posts, the premium has been recovered from the insured alongwith CGST ON 18.7.2022. Is it in order? What is the remedy?

AI Summary

Query on GST Amendment: Postal Life Insurance Premiums Exempt from RCM, Collected with CGST on July 18, 2022. A query was raised on a discussion forum regarding a GST amendment effective from July 18, 2022. The amendment omits postal life insurance premiums from the Reverse Charge Mechanism (RCM). However, the Department of Posts collected the premium along with Central Goods and Services Tax (CGST) on the same date. The individual questioned whether this action was appropriate and sought a remedy. A respondent inquired about the specific period involved to provide further assistance.