As per the Order passed by the Commissioner (Appeals – I) in appeal no. HYD/SVTAX-HYC/APP-025-022-23 (APP1) dated 22/06/2022, it is stated that the services provided by the Authority to Insurance intermediaries are liable for Service Tax / GST.

Therefore, all insurance intermediaries are advised to ensure that any payment made to the Authority towards fees / charges etc., paid / payable on or after 12/08/2022 shall be made along with GST @ 18%.  Instructions in respect of Service Tax / GST for the earlier period will be issued separately.

Further, all the insurance intermediaries are directed to submit a copy of their GST registration certificate bearing the Goods and Services Tax Identification Number to the Authority on the e-mail ID, kanthishri@irdai.gov.in and accounts@irdai.gov.in  on or before 20th  August, 2022 for the purpose of including the same in the invoices generated by the Authority in respect of the fee collection.

CGM (General Administration & HR)

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This entry is part 12 of 17 in the series September 2022 - Insurance Times

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