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Tuesday, October 13, 2020

GST is payable on Life Insurance plans?

GST is applicable on all insurance plans. 


First year GST is 4.5% of the premium. 


Next year onwards it comes down to 2.25%. 


GST is 1.8% in case is single premium plans like 

Single premium endowment plans

Jeevan Ashanti 
Jeevan Akshay VII 
Bima Bachat. 

No GST PLANS

Pradhan Mantri Vaya Vandana plan

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