Single format · FV05-J7

Annual position note, section 17(4) option and the Rule 32(2) valuation election

Interest is exempt and almost everything a lender charges alongside it is not; and since 22.09.2025 an insurer selling an exempt policy has had to work out what to do with years of credit that was good when it was taken.

Length
3 pages
Blanks to fill
29
Files
Word and PDF
Law stated to
13 September 2026

What it covers

  1. 1Annual position note, section 17(4) option and the Rule 32(2) valuation elections.17(4) · Rule 38 · Rule 32(2) · Rules 42 and 4329 blanks

Read the opening

The first part of the format, as it downloads. Blanks are highlighted.

On the letterhead of the bank, financial institution or NBFC — to be approved before 1 April and retained as the record of the election for the year

Note for the record — input tax credit option and foreign exchange valuation election for the financial year [YYYY-YY]

Entity: [Entity's name] · GSTIN: [Entity's GSTIN] · State: [Entity's State] · Nature of business: [banking company / financial institution / NBFC]

9 more paragraphs and tables follow in the full format.

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