Frequently Asked Questions

GST is indirect tax which will subsume all indirect taxes excluding basic custom duty. It is a destination based tax on consumption of goods and services. It will be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff.

GST is effective from 1st Jul 2017.

Yes, you can get the GST amount from your policy document.

Payment done prior by 30th Jun 17 will attract Service tax. GST will be applicable on the payments done from 1st Jul 17 onwards.

Yes, in the GST regime the tax rate applicable is 18% instead of current 15% in the Service tax regime. There will be a 3% increment in tax rate which will in turn increase the premium amount. This is effective from 1st July 2017, and applicable on the premium paid on or after 1st July 2017.

GST paid on insurance premium is eligible as input credit only when State Government notifies the service.

In case you have GST registration number, you must provide it to us.
As per GST return rules, service providers need to upload the transactions done with registered and unregistered person separately in GSTR-1 (Outward supply return).
And, if you are a GST registered person, you also need to show these transactions in your GSTR2 (Input Credit Return) separately under GST paid but not eligible for credit.

No. GST is indirect tax and applicable to business entities only. So, if you are carrying out any business or profession and your yearly turnover from business is more than INR 20 Lacs per annum, then you need to register under GST.(For more information on registration, please refer GST registration rules uploaded on GST portal)

Please refer the below list: