Services by the insurer to the reinsurer for which ceding commission or the reinsurance commission is deducted from

Tax20244 sections

Statutory text

(39) No refund of tax paid or input tax credit reversed.—No refund shall be made of all the tax paid or the input tax credit reversed, which would not have been so paid, or not reversed, had sub-section
(5) and
(6) of section 16 of this Act as amended by the Kerala Taxation Laws (Amendment) Act, 2024 (28 of 2024) been in force at all material times. 4. Amendment of Act 18 of 2024 In the Kerala Finance Act, 2024 (18 of 2024), in section 12, after the proviso, the following proviso shall be inserted, namely:— “ Provided further that, in cases where the certificate of settlement has been issued in respect of all tax or taxes/surcharge pertaining to a year under a relevant Act, all penalty imposed under such relevant Act pertaining to such year, other than the penalty referred to in the proviso to clause
- (a) of sub-section
(1) of section 6 of this Act, shall be deemed to be settled under this Act.”. 5. Repeal and saving
(1) The Kerala Taxation Laws (Amendment) Ordinance, 2024 (2 of 2024) is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the Kerala Finance Act, 2008 (21 of 2008), the Kerala State Goods and Services Tax Act, 2017 (20 of 2017) and the Kerala Finance Act, 2024 (18 of 2024) as amended by the said Ordinance shall be deemed to have been done or taken under the above said Acts as amended by this Act.

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