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What is GST refund?

GST refund is applicable on the premiums received on or after September 1, 2021 that fulfil the Qualification Criteria mentioned below.

The revised process of refunding GST is not applicable on premiums received by the Company on or before August 31, 2021 as the GST for these policies has been deposited and reported to the Government and is not subject to changes/alterations.

In event, where the Government demands GST amount on premiums received on or after September 1, 2021, the policyholder has to submit the duly signed GST declaration form. This indemnifies that the policyholder will pay GST to the Company, who in turn will refund the amount.

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COMP/DOC/Jun/2022/306/0681

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