GST Refund on Health Insurance for NRIs

Buying a health insurance policy in India attracts an 18% GST (or Goods & Services Tax), which is included in your premium amount. But you can get a refund of the GST paid on your medical insurance policy if you are an NRI. That’s right! NRIs buying health insurance from India can get a GST refund. Know more about GST refund on health insurance for NRIs below.

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      GST Refund for NRIs Buying Health Insurance from India

      NRIs or Non-Resident Indians are eligible for a GST refund if they buy health insurance from an insurance company in India. This is because NRIs are already paying tax in their foreign country of residence and, hence, are exempted from paying tax in India. However, NRIs need to consciously opt for a GST refund at the time of buying their mediclaim policy.

      To get a GST refund, the NRI proposer must be one of the insured members of the health insurance policy and should pay the premium using an NRE account. Moreover, the GST refund for NRI health insurance premiums is available on policies with an annual mode of payment.

      How to Get a GST Refund on Health Insurance for NRIs?

      Follow the step-by-step procedure given below to get a GST refund on buying health insurance from India:

      Step 1: Visit policybazaar.com and click on ‘Health Insurance

      Step 2: Choose your gender and provide your full name

      Step 3: Select the family members that you want to insure along with their ages

      Step 4: Enter your city of permanent residence in India or its pin code

      Step 5: Choose the international calling code of the foreign country where you stay and provide your overseas phone number

      Step 6: Pick the relevant options providing medical history details of the people to be insured

      Step 7: Select the health insurance policy that you want to purchase and proceed

      Step 8: Fill up the proposal form and pay the premium online via your NRE account

      Step 9: Share the required documents after successful payment

      Step 10: Talk to our insurance advisors to raise a request for a GST refund

      The insurance company will verify all the documents after policy issuance. In case of incomplete or wrong documentation, your GST refund request will be rejected.

      People also read: Health Insurance for Parents Living in India

      Documents Required to Get a GST Refund on Health Insurance for NRIs

      Check out the documents required to get a GST refund on health insurance for NRIs:

      • TRC or Tax Residency Certificate for NRIs 
      • Address proof of the foreign country of residence
      • Declaration
      • Last 6 months’ bank statement of the NRE account used to pay the premium
      • KYC documents, such as the passport, Aadhaar card, etc.

      Note: The list of documents required for a GST refund on health insurance for NRI may vary from insurer to insurer. Also, a GST refund on health insurance renewal is applicable for NRIs if they have taken a GST refund on the fresh policy bought from Policybazaar.com. NRIs do not have to submit the TRC again to avail GST refund on renewals if they have availed GST refund on the fresh policy purchased from Policybazaar.

      Summing It Up

      Most NRIs pay income tax in the foreign country where they reside. For them, paying GST on their health insurance policy in India is no less than a burden. But by opting for a GST refund, they can claim a GST of 18% paid at the time of buying a medical insurance policy from India. Make sure to submit the required documents to get a GST refund on your health insurance premium.

      FAQs

      • Q1. Can NRI claim GST refund on health insurance?

        Ans: Yes. NRIs can claim a GST refund on health insurance purchased from an Indian insurance company if they have paid the premium from an NRE account. Moreover, the policy should have an annual mode of premium payment.
      • Q2. How much can I claim GST refund?

        Ans: As an NRI, you can claim a refund of 18% GST paid on health insurance premiums in India
      • Q3. How do I claim my tax refund from health insurance?

        Ans: If you are an NRI, you can claim a tax refund from your health insurance provider by raising a GST refund request and sharing the required documents, including a Tax Residency Certificate (TRC), a declaration, the last 6 months NRE account’s bank statement, address proof abroad and KYC documents.
      • Q4. Can anyone claim GST refund?

        Ans: Yes, NRIs can claim a GST refund on health insurance if they have purchased a health insurance policy from an Indian insurer on an annual premium mode using their NRE account.
      • Q5. Should NRIs buy health policies in India?

        Ans: Yes. NRIs should purchase a health insurance policy in India to stay covered against medical expenses incurred during their travel or stay in India. Moreover, they can also get a GST refund on their health insurance premium if they are paying tax in their foreign country of residence.
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