Advance Ruling— Section 97 of CGST Act— The present application has been filed by the applicant, seeking an advance ruling in respect of the following questions—

1. The applicant provides insurance service under insurance products namely ULIP product, Endowment Product, Annuity Product, Term Product and Riders to NRI/PIO policyholder’s residing outside India. The NRI/PIO pays insurance premium through their NRE account maintained with Indian Bank as permitted by RBI through various mode i.e. directly debit, DD, cheque or NACH. Does receipt of consideration i.e., premium, through the said NRE account (through various mode) would be treated as amount received in convertible foreign exchange to satisfy the condition of para (iv) of Section 2(6) of IGST Act 2017 as amended w.e.f. 01.02.2019 and thereby will not be liable to pay GST?

2. Does the deduction of charges from fund value of ULIP policies substantiated through policy document, policy account statement along with above-mentioned documents which substantiate receipt of premium from NRE to satisfies the condition specified in sub-clause (iv) of section 2(6) of IGST Act, 2017 and thereby will not be liable to pay GST?

The applicant has submitted a letter and requested that they may be allowed to voluntarily withdraw their subject application filed on 05.10.2020.

 Held that— The request of the applicant to withdraw their application voluntarily and unconditionally is hereby allowed, without going into the merits or detailed facts of the case.