Exempted GST on Universal Health Insurance Scheme

 

Services of general insurance business provided under Universal Health Insurance Scheme is exempted from paying GST

 

Exempted GST on Universal Health Insurance SchemeIs GST payable on Services of general insurance business provided under Universal Health Insurance Scheme? GST on Services of general insurance business provided under Universal Health Insurance Scheme is nil rate? Should I need to pay GST on Services of general insurance business provided under Universal Health Insurance Scheme?

 

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

 

There are six GST tax slabs – 0, 5, 12, 18, 28, and 28 percent plus cess. 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 Universal Health Insurance Scheme. Would you like to add more information about GST rate tariff on Services of general insurance business provided under Universal Health Insurance Scheme? Share below your comments about Goods and Service Tax levied on Services of general insurance business provided under Universal Health Insurance Scheme.

 

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

 

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

 

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Comments


Birendra Kumar : 18 percent of GST in health insurance very high ,it is note fare because health is very important things in our life so government should not take any Tax in Health Sector.

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