Here’s how NRIs can save up to 18% GST on insurance premiums
Take the case of Ankit Jain, a 40-year-old NRI who works as a consultant in Germany. He paid ₹86,641 for his policy but will receive a ₹15,595 GST refund, thanks to sub-clause (iv) of Section 2(6) of the Integrated Goods and Services Tax (IGST) Act. It states that when an NRI buys an insurance policy…