Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The circular clarifies the treatment of input tax credit in relation to life insurance premiums not included in taxable value. The circular explains that such premiums are not to be considered as pertaining to a non-taxable or exempt supply under the CGST Act. As per the Insurance Act, life insurance policies may include an investment component, but the portion of premium not included in taxable value does not qualify as exempt supply. Therefore, there is no requirement to reverse input tax credit for such premiums as per Rule 42 of the CGST Rules. The circular aims to ensure uniformity in the implementation of tax provisions across field formations.
TaxTMI 
TaxTMI 
