IRDAI on Applicability of Service Tax / GST on services provided by IRDAI to Insurance intermediaries

Aug 12, 2022 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe Insurance Regulatory and Development Authority of India (IRDAI) on August 11, 2022, on the Order made by the Commissioner (Appeals - I) in regard to appeal number HYD/SVTAX-HYC/APP-025-022-23 (APP1) dated June 22, 2022, the Authority's services to insurance intermediaries are subject to Service Tax or GST.

Therefore, it is advisable for all insurance intermediaries to make sure that any payment made to the Authority for fees, levies, or other amounts due on or after 12/08/2022 includes GST at 18%. Instructions for the preceding period's Service Tax and/or GST will be provided separately. 

Additionally, all insurance intermediaries are required to send a copy of their GST registration certificate, which includes their Goods and Services Tax Identification Number, to the authority at [email protected] and [email protected] by August 20, 2022, so that it can be included in the invoices the authority generates for fee collection. 

[Notification No. IRDAI/GA&HR/CIR/MISC/172/8/2022]


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