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

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.... OF THE COMMISSIONER OF COMMERCIAL TAXES EZHILAGAM, CHENNAI- 600 005 PRESENT: Dr. D.JAGANNATHAN I.A.S, COMMISSIONER OF STATE TAX Circular No.9/2025 (PP6/GST-2/2025) Dated: 04.02.2025 Sub: 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 ....

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.... 2. On the recommendations of the 53rd meeting of the GST Council held in New Delhi on 22nd June, 2024, the following activities or transactions were included in Schedule III of the TNGST Act, 2017 as activities or transactions which shall be treated neither as a supply of goods nor as a supply of services: a) Activity of apportionment of co-insurance premium by the lead insurer to the ....

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....sions were enacted vide Tamil Nadu Goods and Services Tax (Third Amendment) Act, 2024 (Act No. 3 of 2025) published in Tamil Nadu Government Extraordinary Gazette [Issue No.11] dated 08.01.2025 and have been brought into force on 01.11.2024. 3. In its 53rd meeting, the GST Council further recommended that the payment of GST on the activities or transactions, as specified in paragraph 2 above, m....