GST liability on reinsurance service between 1st July 2017 and 26th July 2018 regularized on ‘as is where is’ basis

AXA France Vie-India Vs Union of India & Ors. (Delhi High Court)

Delhi High Court held that all reinsurance services with respect to government insurance services were exempt from levy of GST with effect from 1^st July 2017. Notably, GST liability on services between period 1^st July 2017 and 26^th July 2018 is regularized on ‘as is where is basis’.

Facts- The petitioner is a leading multinational insurance company which is also registered as a foreign reinsurance branch with the Insurance Regulatory and Development Auth

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