Exempted GST on Services of general insurance provided under Scheme for Insurance of Tribal

 

Services of general insurance business provided under Scheme for Insurance of Tribals attracts no GST on sale of Services of general insurance business provided under Scheme for Insurance of Tribals

 

Exempted GST on Services of general insurance provided under Scheme for Insurance of TribalIs GST payable on Services of general insurance business provided under Scheme for Insurance of Tribals? GST on Services of general insurance business provided under Scheme for Insurance of Tribals is nil rate? Should I need to pay GST on Services of general insurance business provided under Scheme for Insurance of Tribals?


As per GST Law 2017, there is no GST payable on Services of general insurance business provided under Scheme for Insurance of Tribals.
So the rate of GST payable on Services of general insurance business provided under Scheme for Insurance of Tribals is nil rate.

 

The GST Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. According to GST slabs, the most essential goods and services fall under the exempt list while Commonly used Goods and Services have been put in the lowest tax bracket of 5 per cent. Standard Goods and Services are in 12 per cent tax bracket, the government has kept a large number of items under 18% tax slab. only Special category of Goods and Services including luxury goods fall in the top tax bracket of 28 per cent. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST

 

This information is about GST on Services of general insurance business provided under Scheme for Insurance of Tribals. Would you like to add more information about GST rate tariff on Services of general insurance business provided under Scheme for Insurance of Tribals? Share below your comments about Goods and Service Tax levied on Services of general insurance business provided under Scheme for Insurance of Tribals.

 

The above details about GST rate tariff on Services of general insurance business provided under Scheme for Insurance of Tribals is only for information.

 

The validity of above information and amendments about GST rate on Services of general insurance business provided under Scheme for Insurance of Tribals may be verified before any business dealing.

 

 

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