Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy GST
Is GST payable on Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy? Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy falls under GST exemption list? Should I need to pay GST on of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy?
As per GST Law 2017, there is no GST payable on Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy.
So the rate of GST payable on Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy is nil rate.
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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The above details about GST rate tariff on Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy is only for information.
The validity of above information and amendments about GST rate on Services of general insurance business provided under Janata Personal Accident Policy and Gramin Accident Policy may be verified before any business dealing.
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