Services by the business facilitator or a business correspondent to an insurance company is exempted from paying GST.
Any GST payable for Services by the business facilitator or a business correspondent to an insurance company in a rural area? Does Services by the business facilitator or a business correspondent to an insurance company in a rural area fall under GST exemption list? Should I need to pay GST on my service product Services by the business facilitator or a business correspondent to an insurance company in a rural area?
As per GST Law 2017, there is no GST payable on Services by the business facilitator or a business correspondent to an insurance company in a rural area.
So the rate of GST payable on Services by the business facilitator or a business correspondent to an insurance company in a rural area is nil rate.
The Goods and Services Tax (GST) will be levied at multiple rates ranging from 0 per cent to 28 per cent. GST Council finalised a four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.
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The above details about GST rate tariff on Services by the business facilitator or a business correspondent to an insurance company in a rural area is only for information.
The validity of above information and amendments about GST rate on Services by the business facilitator or a business correspondent to an insurance company in a rural area may be verified before any business dealing.
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