Amendment of Schedule-III

In the Princlpal Act, in Schedule lll, after paragraph I and before Explanation 1 , the following paragraphs shall be inserted, namely:- '9. Activity of apportronment of co-insurance premium by the lead insurer to the co-ansurer forthe insurance services jointly supplied by the lead insurerand the co-insurer to the insured in co-insurance agreements, subject to the condition that the lead insurer pays the central tax, the State tax, the Union territory tax and the integrated tax on the entire amountof premium paid by the insured. 10. Services by insurer to the reinsurer for which ceding commission or the reinsurance commission is deducted from reinsurance premium paid by the insurer to the reinsurer, subject to the condition that the centraltax, the State tax, the Union territory tax and the integrated tax is paid by the reinsurer on the gross reinsurance premium payable by lhe insurer to the reinsurer, inclusive of the said ceding commission or the reinsurance commission".