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Taxation Assam Ministry of Finance Assam Goods and Services Tax Act, 2017

Government of Assam issues a circular regarding transactions or activities that will be treated as neither a supply of goods nor services

19-Feb-2025 | Circular No.187/2025 - GST

Government of Assam has issued a circular regarding transactions or activities that will be treated as neither a supply of goods nor services.

By virtue of circular:

- The activity of apportionment of co-insurance premium through co-insurance agreements between the lead insurer and co-insurers, where GST has been paid by the lead insurer on the full premium amount.

- Services provided by the insurer to the reinsurer, where GST has been paid by the reinsurer on the reinsurance premium paid by the insurer, including the ceding commission or reinsurance commission.

- Further, the payment of GST on the above activities is regularized on an 'as is, where is' basis for the period from 01.07.2017 to 31.10.2024.

For more information, please refer to the specified document.

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