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GST taxpayers can't claim pending input tax credit if GSTR 3B is not filed by this date for FY 2023-24

If you are a goods and services tax (GST) registered taxpayer and want to claim any pending input tax credit (ITC) for FY 2023-24 or amend any errors or omissions under GST then note the last date to ...

No GST on insurance a loss for policyholders? What the math shows

Policyholders will pay no GST on health and life premiums from September 22, but insurers lose the ability to claim tax credit on expenses like commissions, rent and software, raising their operating ...

Input Tax Credit issue: Insurers to charge 18% GST on agents’ commission

Insurers face higher operating costs, and distributors face lower earnings, highlighting the unintended consequences of a ...

GST reforms: No input tax credit on commission for individual health, life insurance policies from Sep 22; insurers to bear cost

Starting September 22, insurers can't claim input tax credit (ITC) on GST paid for commissions on individual health and life policies, as clarified by CBIC. This aligns with the new GST structure ...

Full GST benefit to these insurance customers as the insurers pass ITC burden to distribution partners

Following the GST Council's decision to exempt individual health and life insurance policies, insurers are adjusting to the ...

Policyholders are unlikely to get full benefit from GST exemption; premiums likely to rise with no ITC benefit

Starting September 22, 2025, individual health and life insurance premiums are GST-exempt, but insurers have lost their ITC ...