GST Tax for insurance auxiliary services concerning general insurance business

GST tariff on insurance auxiliary services concerning general insurance business

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The details about GST rate changes for sale of insurance auxiliary services concerning general insurance business are being updated here.  The notification changes on exemptions for GST for sale of insurance auxiliary services concerning general insurance business and other circulars related to GST for insurance auxiliary services concerning general insurance business are updated in this website.

GST Tax for insurance auxiliary services concerning general insurance business"Insurance Auxiliary Service" means any service provided by an actuary, an intermediary or insurance intermediary or an insurance agent in relation to general insurance business or life insurance business and includes risk assessment, claim settlement, survey and loss assessment;

Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services.  Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively.  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.

 

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GST scheduled rate on Processed fish business

Nil rate of GST on sale of Foliage without flowers or flower buds

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Nil rate tariff of GST on sale of chilled fish

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Zero percentage of GST on sales of Fish fillets and other fish meat fresh or chilled

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Indian GST charges on Insurance Auxiliary Service provided by an actuary in life insurance business

Goods and Service Tax rate on Insurance Auxiliary Service provided by an intermediary in general insurance business

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GST tax on Insurance Auxiliary Service provided by insurance agent in survey and loss assessment

Slab GST on Insurance Auxiliary Service provided by insurance agent in risk assessment


Comments


Ganapathi Golla: Being done the GST registration, if the annual Turnover is within 20lachs, weather we need to make the GST bills or not.

Praveen Kumar kamath: whether GST is applicable on conveyance & photo charges which are out of pocket expenses

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