What is the GST rate for life insurance premiums?

GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The GST was implemented with an ideology of One Nation One Tax and also predominantly to remove the cascading effect (tax on tax) which was prevalent under the erstwhile tax regime.

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  GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The GST was implemented with an ideology of One Nation One Tax and also predominantly to remove the cascading effect (tax on tax) which was prevalent under the erstwhile tax regime.

• Country: India
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