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            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

            Provisions expressly mentioned in the judgment/order text.

            <h1>GST Rules Clarify Taxable Value for Life Insurance: Risk, Investment, Annuity Policies, and Premium Taxation Explained</h1> The GST Rules specify how to determine the taxable value of life insurance services. For policies with both risk and investment benefits, the taxable value is the gross premium minus the investment allocation if disclosed to the policyholder. For single premium annuity policies without disclosed allocations, it is 10% of the premium. In other cases, 25% of the first-year premium and 12.5% for subsequent years are taxable. If the policy covers only risk, the entire premium is taxable. It is clarified that undisclosed investment allocations do not count as non-taxable supplies, thus not requiring input tax credit reversal.

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