Life insurance services via annuities under NPS exempt from service tax since April 2016, per Notification No. 09/2016.
The services of life insurance business offered through annuities under the National Pension System (NPS), regulated by the Pension Fund Regulatory and Development Authority (PFRDA) of India, are exempt from service tax. This exemption is effective from April 1, 2016, as per Notification No. 09/2016 dated March 1, 2016, amending the earlier Notification No. 25/2012 dated June 20, 2012. This exemption is outlined in Chapter 26C of the Service Tax Practice Manual/Ready Reckoner.
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