Circular – Applicability of Service Tax _ GST on services provided by IRDAI to Insurance

IRDAI vide ref. no. IRDAI/GA&HR/CIR/MISC/172/8/2022 dated August 11, 2022 has issued a Circular on “Applicability of Service Tax / GST on services provided by IRDAI to Insurance intermediaries”.

Major highlights of the Circular are as follows:

• All the insurance intermediaries are advised to ensure that any payment made to IRDAI towards fees/charges etc . , paid/payable on or after August 12, 2022 shall be made along with the GST @ 18%.
• IRDAI has also clarified that instructions in respect of service tax / GST for the earlier period will be issued separately.
• Insurance intermediaries are further informed to submit a copy of their GST Registration Certificate bearing the Goods and Services Tax Identification Number (GSTIN) to IRDAI on the e- mail ID, kanthishri@irdai.gov.in and accounts@irdai.gov.in on or before August 20, 2022 for inclusion of the same in the invoices generated by IRDAI in respect of fee collection.

Source category: IRDAI

Attachments

• /2022/75_APPLIC~1.PDF