https://www.taxtmi.com/circulars?id=71499 Input tax credit reversal is not required for the portion of premium under taxable life insurance policies that is excluded from taxable value as an investment or savings component. Such exclusion is a valuation mechanism and does not make that portion attributable to an exempt or non-taxable supply. As life insurance services remain taxable, credit-reversal provisions applicable to exempt supplies do not apply to the excluded premium amount. en-us Fri, 12 Jul 2024 00:00:00 +0530 Sat, 03 Oct 2026 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71499 Input tax credit reversal is not required for the portion of premium under taxable life insurance policies that is excluded from taxable value as an investment or savings component. Such exclusion is a valuation mechanism and does not make that portion attributable to an exempt or non-taxable supply. As life insurance services remain taxable, credit-reversal provisions applicable to exempt supplies do not apply to the excluded premium amount. Circulars GST - States Fri, 12 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71499