https://www.taxtmi.com/circulars?id=67589 The portion of life insurance premium excluded from taxable value under Rule 32(4) is not a nil rated, exempted or non taxable supply merely by virtue of its exclusion; accordingly, that portion does not trigger reversal of input tax credit under the reversal provisions applicable when supplies are exempt or non taxable, and no reversal is required for taxable life insurance policies. en-us Wed, 26 Jun 2024 00:00:00 +0530 Fri, 28 Jun 2024 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67589 The portion of life insurance premium excluded from taxable value under Rule 32(4) is not a nil rated, exempted or non taxable supply merely by virtue of its exclusion; accordingly, that portion does not trigger reversal of input tax credit under the reversal provisions applicable when supplies are exempt or non taxable, and no reversal is required for taxable life insurance policies. Circulars GST Wed, 26 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67589