Wednesday, June 3, 2015

Service Tax - Insurance

As per the Finance Act 2015, from 1st June 2015, service tax rates will be increased as under:
Description
Current Rate
Revised Rate
Term Plans / Health Plans / Riders
12.36%
14%
ULIP Charges / Other Charges
12.36%
14%
Traditional /Endowment (1st Year)
3.09%
3.50%
Traditional /Endowment (Subsequent premiums)
1.545%
1.75%
Due to the revisions, your premium payable shall also change.
 

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