Life insurance GST exemption applies where the insured is an individual or family, excluding group policies under a common economic purpose. Services of life insurance provided by an insurer to the insured are exempt from GST where the insured is not a group; the exemption covers contracts where the insured is an individual or the individual and family, and defines 'group' as persons joining with a commonality of purpose or common economic activity other than availing insurance, including employer-employee and non employer-employee groups.
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 GST exemption applies where the insured is an individual or family, excluding group policies under a common economic purpose.
Services of life insurance provided by an insurer to the insured are exempt from GST where the insured is not a group; the exemption covers contracts where the insured is an individual or the individual and family, and defines "group" as persons joining with a commonality of purpose or common economic activity other than availing insurance, including employer-employee and non employer-employee groups.
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