F. No. 29-09/2023-LI
Govt. of India
Ministry of
Communications
Department of Posts
Directorate of Postal Life
Insurance
Chanakyapuri PO Complex,
New Delhi - 110 021.
Dated 31.05.2024
To
The All Heads of the Circle.
Subject: Maintenance of a data register from January-2024 for manual collection of GST on late fees/default fees/interest collected on delayed payment of PLI/RPLI premia till incorporation of the provision in the McCamish system-reg.
Kindly refer to this Directorate letter/email dated 22.03.2024 & 26.03.2024 wherein guideline was issued regarding the payment of GST on late fees/default fees/interest collected on delayed payment of PLI/RPLI premia. It was instructed that the payment of GST on late fees/default fees/interest collected on delayed payment of PLI/RPLI premia from January 2024 onwards is to be collected manually till incorporation of automatic deduction of GST in McCamish system.
It is to mention that after incorporation of provision of default fee in McCamish, system will calculate the total default fee and GST applicable on a particular policy and the same will be charged from the customer. To avoid double collection of GST, the amount already collected manually need to be updated from back end in McCamish system.
In view of above, it is requested to kindly issue necessary instructions to the concerned HO/SO/BO to maintain a data register for manual collection of GST on default fee from January 2024 until the system incorporation in the prescribed performa (attached herewith).
It is also requested that after incorporation of the provision in McCamish, a HO-wise consolidated report may be furnished to this Directorate for back end updation of respective policies.
This is issued with the approval of the competent authority.
(Sachidahand Prasad)
General Manager (Finance)
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