Individual
Is GST waiver available to NRIs on premiums paid through Indian account?
Go to dashboardPremium payment of insurance policies via Indian account(NRE) & foreign account(SWIFT) is eligible for GST waiver subject to submission of all necessary documents.
Please reach out to us at https://www.maxlifeinsurance.com/help-center/is-gst-waiver-available-to-nris-on-premium-paid-through-indian-account nri.helpdesk@maxlifeinsurance.com with required documents for more details.
Can NRI customers claim for GST waiver? What are the required documents to get a GST waiver/exemption?
GST waiver benefit can be availed by an NRI customer subject to the following conditions:
- GST waiver/refund can be availed by an NRI customer only if the premiums have been paid through NRE/Forex accounts (without conversion into INR)
- GST waiver/refund is not applicable for ULIP plans
- All required documents should be mailed to https://www.maxlifeinsurance.com/help-center/is-gst-waiver-available-to-nris-on-premium-paid-through-indian-account nri.helpdesk@maxlifeinsurance.com within the same calendar month as the payment made. For Example: If premium is paid in the month of Aug all documents should be received in Aug month only.
Documents required for GST refund/waiver:
- Overseas Address Proof (Any one of the following):
- Foreign/Indian NRE bank account statement mentioning overseas address
- Driving License
- Overseas country passport
- Certification from Government/ Embassy
- Government issued ID card
- Any Utility Bill
- Lease/Rent agreement covering period of premium payment
- Payment Proof: Latest bank statement/copy of cancelled cheque/passbook confirming registered NRE account and reflecting premium payment from the same account. (Not required if Foreign/Indian NRE Bank statement with overseas address is submitted as address proof)
- Exit Stamp: A copy of the last page of the passport containing the Exit Stamp (Not required if any utility bill/rent or lease agreement is submitted as address proof)
- Foreign Tax Identification No.(FTIN): A copy of your Foreign Tax Identification No. (FTIN) (Please click here to know more about FTIN)
- Self-Declaration: To be provided on plain paper or from registered mail id. Click here for Format.
*Please note that vernacular declaration is also to be submitted only if address proof is in foreign language. To be provided on plain paper or from registered mail id.
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