18-September-2025
Taxation
 
No ITC benefit towards GST paid on commission on individual health, life policies from Sep 22
17-Sep-2025

Insurance companies will not be able to claim input tax credit on GST paid on inputs like commissions and brokerages for individual health and life insurance policies with effect from September 22, the CBIC said on Tuesday. The Central Board of Indirect Taxes and Customs (CBIC) has issued a set of FAQs clarifying on the taxation of various goods and services when the new GST slabs kick in from September 22.

News Source:- https://economictimes.indiatimes.com/industry/banking/finance/insure/no-itc-benefit-towards-gst-paid-on-commission-on-individual-health-life-policies-from-sep-22/articleshow/123921470.cms
 
 
 

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