On 27th July 2009, we have written a post title, “Management Corporation – insurances and service tax waiver” where we have proposed that the 5% service tax on insurance premium should be waived on the grounds that the Management Corporation (MC or PP) or Joint Managment Body (JMB or PPB) is not a taxable person and...
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Over the last one year, there have been pressure from the marketing teams (obviously driven by broking distribution sectors) to push for the waiver of service tax supposedly apply for all insurance policies issued to Joint Management Body (JMB) and Management Corporation (MC) formed under either the Joint Property Act (Maintenance And Management) 2007 or...
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