Below are the criteria’s for NRI policyholders to qualify for GST refund:

• The residential status of the policyholder should be Non-Resident Indian
• Entire premium payment should be made from an NRE bank account

Documents to be submitted along with application for GST refund:

• Scanned copy of duly signed GST declaration form (Click here to download form)
• Valid international address proof (Mailing or Permanent)

Documents to be submitted while placing request for GST refund:

• Scanned copy of duly signed GST declaration form (Click here to download form)
• Proof of the NRE account from which the premium is debited:
  1. Bank account statement (must include the premium payment transaction) or
  2. Letter from the bank confirming account type as NRE account and premium paid transaction from the same account
• International address proof (Mailing or Permanent) if not submitted earlier with the application

• For ULIPs policies, GST levied on premium allocation charges will be refunded
• For all other policies, the entire GST amount will be refunded

• For ULIPs policies, units will be adjusted to account for the refund amount
• For all other policies, the refund amount will be transferred electronically to the registered NRE bank account

i. Policyholder is a Resident Indian, but payer is an NRI

In this case, Resident Indian policyholders are not eligible to receive NRI GST refund.

ii. Life Assured is a Resident Indian, but proposer is an NRI

In this case, since payment is made from an NRE account, GST can be refunded if the ‘Qualification Criteria’ are met.

iii. Proposer is a Resident Indian but Life Assured is an NRI

In this case, since the premium is not being paid from an NRE account, GST cannot be refunded.

iv. Premium paid from NRO account

In this case, since the premium is not being paid from an NRE account, GST cannot be refunded.

v. Premiums are paid from both NRE and NRO accounts

Premiums paid partially from NRE account are not eligible for GST refund.

vi. Payment made using international credit card payment and SWIFT payments

GST refund is applicable only for payments made through Netbanking, Debit card, Electronic Clearing System (ECS), Direct Debit Mandate or cheque from NRE account. Any other mode of payment cannot be used to claim GST refund.

vii. Premium payment made from NRE joint account towards 2 applications

In this case, if the proof of payment (bank account statement of NRE account) mentions the policyholder’s name, then GST is refund is applicable for both applications.

viii. Payment is made from a different NRE account and refund is claimed from a different NRE account

In this case, GST refund will not be applicable since refund must be claimed from the NRE account used for premium payment.

ix. Premium is paid through transfer of funds (TOF) from an existing policy

In this case, GST refund is not applicable.

x. Premium payment made from multiple NRE accounts and payment mandate captured from a single NRE account

In this case, GST refund is not applicable since complete payment must be made from a single NRE account.