No GST on Services of Pilot Scheme on Seed Crop Insurance

 

Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance is exempted

 

No GST on Services of Pilot Scheme on Seed Crop InsuranceWhat is the concessional rate of GST on Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance? Does Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance fall under GST exempted items?

 

As per GST Law 2017, there is no GST payable on Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance.
So the rate of GST payable on Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance 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. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. 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 Pilot Scheme on Seed Crop Insurance. Would you like to add more information about GST rate tariff on Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance? Share below your comments about Goods and Service Tax levied on Services of general insurance business provided under Pilot Scheme on Seed Crop Insurance.

 

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

 

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

 

 

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