A JOURNEY TOWARDS TRUTH, PEACE .

iNSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA IRDA/F&A/CIR/MISC/052/03/2018 March 27, 2018 To All Insurers Sub: Exemption of reinsurance schemes, in respect of specified insurance schemes, from the purview of GST- Reg. It is informed that the proposal to exempt reinsurance schemes in respect of specified insurance schemes has been approved by the GST Council in its 25th meeting held on 18.01.2018 on the condition that the benefit of reduction in the premium on such Insurance schemes, must be passed on to the beneficiaries and the State and Central exchequers. Insurers shall avoid any undue enrichment on this account. Insurers may note that if necessary benefit on account of reduction in premium is not passed on to the insured / Govt., suitable action against the Insurance Companies may be initiated with National Anti-Profiteering Authority under Section 171 of the CGST Act. In this regard, a copy of D.O. No. 354/12/2013-TRU dated 24.01.2018 from

NOTE. PLEASE NOTE. WE ARE NOT PUBLISHING THIS DELAYEDLY. PLEASE . FRIDAY IS JUST DAWN FOR US.

Friends, We have been waiting for long to communicate some fruitful message to all our friends.  However to our dismay the date of hearing is getting postponed again. The latest indication as per computer generated list is  9th April 2018 . The reasons are not clear.  May be the fact that all petitioners are still to file their rejoinders, is the cause.  This is only a logical projection.  We shall confirm when further information is available.  Thank you. --  D.Krishnan General Secretary