Friday, December 4, 2015

Swachh Bharat Cess

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)

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