What will be the rate of GST on insurance premium paid to LIC?

What will be the rate of GST on insurance premium paid to LIC? And what will be its impact on insurance policy

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1 Answer(s)

GST rate on insurance premium is 18%. For annuity plan GST applicable only on 10% of premium, for endowment policies on 1st year premium on 25% of premium and on renewal of endowment policies on 12.5% of premium amount.

Answered on September 2, 2017.
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Gen GST