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.
