- Home
- Industry wise issues
- Insurance Sector
- Whether input tax credit is to be reversed on undertaking obligatory investment in securities ?
Whether input tax credit is to be reversed on undertaking obligatory investment in securities ?
Issue Favourable to Tax Payer ?:- yes
Held - It can be seen from the above reproduced provisions, the activity undertaken by the appellant assessee of issuing any unit linked insurance policy or scrips or any instrument is covered under life insurance business. The Insurance Act, 1938, in Section 27 thereof also mandates that it is obligatory on the part of the insurance company to have investments which are not less than the sum of its current and expected future liabilities towa.....
- Whether courses offered by an institute as per a specified curriculum is exempted from GST ?
- Whether GST is applicable to grants / donations / aids received by Charitable Institute?
- Whether the interest component of EMI of loan advanced by the Bank is exempt from GST ?
- Whether GST is applicable on foreclosure charges on premature termination of loans ?
- Whether leasing of land for construction of property is leviable to GST ?
- Whether supplies ancillary to the transmission and distribution of electricity are exempt ?
- Whether services provided for conducting exams are eligible for GST exemption?
- Whether hostel accommodation provided by Trusts is exempted from GST ?
- Whether cheque bouncing / dishonoring charges collected from defaulting customers is leviable to GST ?
- Whether sale of land after undertaking development activities/ amenities is taxable supply under GST ?