Amendments in Rental Services and Insurance Agent Definition

Central Government, under section 9(3) of CGST Act, 2017, introduces amendments in rental service taxation.

Notably, services provided by Central/State Government or local authorities by renting immovable property to CGST-registered individuals are now included.

This amendment aims to regulate taxation on rental transactions involving government-owned properties. Additionally, the definition of "insurance agent" aligns with the Insurance Act, 1938.

Ruchi Bisht, Under Secretary to the Government of India, issues the notification. Effective from the 28th of June, 2017, with the last amendment dated 13th October, 2017. These measures enhance clarity and compliance in rental services and insurance agent classifications.