Circular on Withdrawal of exemption from GST on services provided by IRDAI to Insurers (dated-11.08.2022)-IRDAI.View Pdf
Circular on Withdrawal of exemption from GST on services provided by IRDAI to Insurers (dated-11.08.2022)-IRDAI.
- As per the MoF (Dept. of Revenue), GoI Notification No. 04/2022 – Central Tax (Rate), dated13th July, 2022 (effective from 18th July, 2022), the central tax (GST) exemption provided to the Authority vide Notification No. 12/2017 – Central Tax (Rate) dated 28.06.2017 in respect of the services provided by the Authority to Insurance companies under the IRDA Act, 1999 has been withdrawn.
- Therefore, all insurers are advised to ensure that any payment made to the Authority towards fees / charges etc., due / paid on or after 18th July, 2022, shall be made along with GST @ 18%, refer attachment for further details.