Regularizing 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 reinsurer https://www.taxtmi.com/circulars?id=68081 Specified insurance transactions are treated as neither supply under Schedule III where (a) lead insurer apportionment of co insurance premium is conditional on the lead insurer paying all applicable central, state/UT and integrated taxes on the full premium, and (b) ceding/reinsurance commission deducted from reinsurance premium is conditional on the reinsurer paying all applicable central, state/UT and integrated taxes on the gross reinsurance premium inclusive of such commission; GST payment for these transactions is regularized retrospectively from 01.07.2017 to 31.10.2024 on an "as is where is" basis. en-us Tue, 28 Jan 2025 00:00:00 +0530 Tue, 28 Jan 2025 16:34:00 +0530 TaxTMI RSS Generator Regularizing 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 reinsurer https://www.taxtmi.com/circulars?id=68081 Specified insurance transactions are treated as neither supply under Schedule III where (a) lead insurer apportionment of co insurance premium is conditional on the lead insurer paying all applicable central, state/UT and integrated taxes on the full premium, and (b) ceding/reinsurance commission deducted from reinsurance premium is conditional on the reinsurer paying all applicable central, state/UT and integrated taxes on the gross reinsurance premium inclusive of such commission; GST payment for these transactions is regularized retrospectively from 01.07.2017 to 31.10.2024 on an "as is where is" basis. Circulars GST Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68081