Insurance Type & GST Hike
Health Plans 18%
Endowment Plans 4.5%
Term Plans 18%
Motor Insurance 18%
Exempt Services : GST on LIC Policy (Insurance)
The following services will be exempt from GST:
Services of life insurance business provided under following schemes–
(a) Janashree Bima Yojana (JBY)
(b) Aam Aadmi Bima Yojana (AABY)
(c) Life micro-insurance product as approved by the Insurance Regulatory and Development Authority, having a maximum amount of cover of Rs 50,000
(d) Varishtha Pension Bima Yojana
(e) Pradhan Mantri Jeevan Jyoti Bima Yojana
(f) Pradhan Mantri Jan Dhan Yojana
(g) Pradhan Mantri Vaya Vandan Yojana
(h) Any other insurance scheme of the State Government as may be notified by Government of India on the recommendation of GSTC
Health Plans 18%
Endowment Plans 4.5%
Term Plans 18%
Motor Insurance 18%
Exempt Services : GST on LIC Policy (Insurance)
The following services will be exempt from GST:
Services of life insurance business provided under following schemes–
(a) Janashree Bima Yojana (JBY)
(b) Aam Aadmi Bima Yojana (AABY)
(c) Life micro-insurance product as approved by the Insurance Regulatory and Development Authority, having a maximum amount of cover of Rs 50,000
(d) Varishtha Pension Bima Yojana
(e) Pradhan Mantri Jeevan Jyoti Bima Yojana
(f) Pradhan Mantri Jan Dhan Yojana
(g) Pradhan Mantri Vaya Vandan Yojana
(h) Any other insurance scheme of the State Government as may be notified by Government of India on the recommendation of GSTC
0 comments:
Post a Comment