Regularizing payment of GST on co-insurance premium apportioned by the lead insurer to the co-insurer and on ceding Ire-insurance commission deducted from the reinsurance premium paid by the insurer to the reinsurer

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.... No. KSA/GST.CR-05/2019-20 (Vol-IV) Office of the Commissioner of Commercial Taxes Vanijya Therige Karyalaya, Gandhinagar, Bengaluru-560009, Dated: 29-01-2025 COMMISSIONER OF COMMERCIAL TAXES CIRCULAR No. GST- 35/2024 Subject: Regularizing payment of GST on co-insurance premium apportioned by the lead insurer to the co-insurer and on ceding ....

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....to the co-insurer 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 commis....