Life insurance services treated as taxable service, covering all services provided by insurers to policyholders and reinsurers. Service tax covers any service provided to a policyholder or any person by an insurer, including reinsurers, in the conduct of life insurance business; insurer includes those carrying on general or life insurance and reinsurers; life insurance business encompasses contracts dependent on human life and related benefits like disability indemnities, annuities, and superannuation allowances; accounting codes are prescribed and consolidated circular guidance supersedes earlier technical clarifications on scope, valuation, exemptions and related service tax matters.
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.
Life insurance services treated as taxable service, covering all services provided by insurers to policyholders and reinsurers.
Service tax covers any service provided to a policyholder or any person by an insurer, including reinsurers, in the conduct of life insurance business; insurer includes those carrying on general or life insurance and reinsurers; life insurance business encompasses contracts dependent on human life and related benefits like disability indemnities, annuities, and superannuation allowances; accounting codes are prescribed and consolidated circular guidance supersedes earlier technical clarifications on scope, valuation, exemptions and related service tax matters.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.