Insurance Premium Sharing Between Lead Insurers and Co-insurers Not GST Taxable Under Schedule III CGST Act
Circulars
GST
GST Council's 53rd meeting recommendations led to amendments in Schedule III of CGST Act, clarifying two key insurance transactions. First, co-insurance premium apportionment by lead insurers to co-insurers is neither goods nor services supply, provided lead insurer pays all applicable taxes on full premium. Second, ceding/reinsurance commission deducted from reinsur
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