Services of life insurance business provided or agreed to be provided by the Air Force is attracts no GST
Is my Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government exempt from paying GST? No GST applicable for Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government? I am doing Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government. Should I need to pay GST?
As per GST Law 2017, there is no GST payable on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government.
So the rate of GST payable on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government is nil rate.
Under GST, all goods and services transacted in India are classified under the HSN code system or SAC Code system. Goods are classified under HSN Code and services are classified under SAC Code. Based on the HSN or SAC code, GST rates have been fixed in five slabs, namely NIL, 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.
This information is about GST on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government. Would you like to add more information about GST rate tariff on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government? Share below your comments about Goods and Service Tax levied on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government.
The above details about GST rate tariff on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government is only for information.
The validity of above information and amendments about GST rate on Services of life insurance business provided or agreed to be provided by the Air Force Group Insurance Funds to members of the Air Force under the Group Insurance Schemes of the Central Government may be verified before any business dealing.
Click here to know GST rate on Goods and Services
GST Exemption list of goods and services
How to export your goods?
Learn exports imports free of cost
Components of a valid TDS Return (GSTR-7):
Components of a valid ISD Return (GSTR-6)
Non-Resident Foreign Taxpayers (GSTR-5)
Quarterly Return for compounding Taxpayers (GSTR-4)
Components of valid GST Return (GSTR-3)
GST Return for Inward Supplies received by the Taxpayer (GSTR-2)