The Government of India has notified levy of Swacch Bharat Cess in
addition to service tax across all service sectors including life insurance
from November 15, 2015.
Please find below the details of the revised rates:
|
Category
|
Service Tax
|
Swacch Bharat Cess
|
Total
|
|
Term insurance premium
|
14%
|
0.5%
|
14.5%
|
|
ULIP charges
|
14%
|
0.5%
|
14.5%
|
|
Endowment:First year premium
|
3.5%
|
0.0625%
|
3.625%
|
|
Endowment:Renewal premium
|
1.75%
|
0.125%
|
1.8125%
|
Government of India notifications in this regard CBEC(Central Board of Excise and Customs)
For any Financial Query Please contact Apurv Gourav ( Gourav Financial Services)
