GST rates
Nil tariff GST on Services of life insurance of Pradhan Mantri Jeevan JyotiBimaYojana
Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana is exempted GST
Any GST payable for Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana? Does Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana fall under GST exemption list? Should I need to pay GST on Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana?
As per GST Law 2017, there is no GST payable on Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana.
So the rate of GST payable on Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana 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 of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana is only for information.
The validity of above information and amendments about GST rate on Services of life insurance business provided under Pradhan Mantri Jeevan JyotiBimaYojana may be verified before any business dealing.