Guidelines for the payment of GST on Late Fees/ Default fees/interest collected on delayed payment of PLI/RPLI premia

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Guidelines for the payment of GST on Late Fees/ Default fees/interest collected on delayed payment of PLI/RPLI premia

No. 29-09/2023 — LI
Government of India
Ministry of Communications
Department of Posts
Directorate of Postal Life Insurance

Chanakyapuri PO Complex,
New Delhi, Dated 22.03.2024

To,

All the Heads of Circle

Subject: – Guidelines for the payment of GST on Late Fees/ Default fees/interest collected on delayed payment of PLI/RPLI premia — reg.

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This is regarding guidelines / directions sought by various circles for the payment of GST on Late Fees/ Default fees/interest collected on delayed payment of PLI/RPLI premia w.e.f. 1st July 2017.

It is to intimate that audit has raised objections in different Circles and in this Directorate for the non-payment of GST on the subject cited above.

In view of the above, a detailed accounting procedure is enclosed for smooth payment of due GST.

Therefore, it is kindly requested to issue necessary instructions to the concerned DDOs to ensure that the payment of GST on Late Fees/ Default fees/interest collected on delayed payment of PLI/RPLI premia w.e.f. 1st July 2017 along with applicable interest has been made to the GST Authorities and appropriate return has been filed.

 

General Manager (Finance)

 

 

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