Heading 9971 or Heading 9991 - GST - Services - General Exemption from GST - CGST / UTGST / SGST / IGST

Services of life insurance business provided under following schemes- (a) Janashree Bima Yojana; (b) Aam Aadmi Bima Yojana; (c) Life micro-insurance product as approved by the Insurance Regulatory and Development Authority, having maximum amount of cover of 21 [two lakhs] rupees; (d) Varishtha Pension BimaYojana; (e) Pradhan Mantri Jeevan JyotiBimaYojana; (f) Pradhan Mantri Jan DhanYogana; (g) Pradhan Mantri Vaya Vandan Yojana. Definition (zm) life insurance business has the same meaning as assigned to it in clause (11) of section 2 of the Insurance Act, 1938 (4 of 1938); (zn) life micro-insurance product shall have the same meaning as assigned to it in clause (e) of regulation 2 of the Insurance Regulatory and Development Authority (Micro-insurance) Regulations, 2005; ****************************** Note: As amended vide Notification No. 2/2018- Integrated Tax (Rate) Dated 25-01-2018 , before it was read as, Services of life insurance business provided under following schemes- (a) Janashree Bima Yojana; (b) Aam Aadmi Bima Yojana; (c) Life micro-insurance product as approved by the Insurance Regulatory and Development Authority, having maximum amount of cover of fifty thousand rupees; (d) Varishtha Pension BimaYojana; (e) Pradhan Mantri Jeevan JyotiBimaYojana; (f) Pradhan Mantri Jan DhanYogana; (g) Pradhan Mantri Vaya Vandan Yojana. Definition (zm) life insurance business has the same meaning as assigned to it in clause (11) of section 2 of the Insurance Act, 1938 (4 of 1938); (zn) life micro-insurance product shall have the same meaning as assigned to it in clause (e) of regulation 2 of the Insurance Regulatory and Development Authority (Micro-insurance) Regulations, 2005;