Learn about Service Tax Rates
Learn about Service
Tax rates
Tax rates
Goods and Services Tax Rates
Government has introduced Goods and Services Tax (GST) on the taxable value of services, effective from July 1, 2017.
GST to be charged and collected from policyholders are as follows:
| Category | GST |
|---|---|
| Term Insurance Premium | 18% |
| ULIP Charges | 18% |
| Health Insurance Premium | 18% |
| Rider Premium | 18% |
| Annuity: Single Premium | 1.8% |
| Endowment: First Year Premium | 4.50% |
| Endowment: Renewal Premium | 2.25% |
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