https://www.taxtmi.com/circulars?id=69961 Premium allocated for investment or savings under life insurance policies and excluded from taxable value under Rule 32(4) is not an exempt or non-taxable supply merely because it is excluded from valuation. The excluded portion of premium in taxable life insurance policies does not require reversal of input tax credit under Section 17(1) and (2) read with Rules 42 and 43, as reversal applies only where credit relates to exempt supplies or mixed use. en-us Mon, 08 Jul 2024 00:00:00 +0530 Wed, 27 May 2026 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69961 Premium allocated for investment or savings under life insurance policies and excluded from taxable value under Rule 32(4) is not an exempt or non-taxable supply merely because it is excluded from valuation. The excluded portion of premium in taxable life insurance policies does not require reversal of input tax credit under Section 17(1) and (2) read with Rules 42 and 43, as reversal applies only where credit relates to exempt supplies or mixed use. Circulars GST - States Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69961