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Applicability of Sales Tax for Life Insurance Policies, VAT + CST

Issue Id: - 2642
Dated: 12-1-2011
By:- Rahul Bagaria

Applicability of Sales Tax for Life Insurance Policies


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My company is into the business of life insurance and service tax is not applicable in the state of J&K for life insurance companies.However there is GST @10.5% in the state of J&K for sale of life insurance products. We have sole few policies in Jammu though we do not have any place of business in J&K. These policies were sold from Punjab and Haryana to the people of J&K. Do we have to pay GST under these scenerio.

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Page: 1


1 Dated: 20-7-2011
By:- pradeep khatri

Insurance Policies are not being treated as 'Goods'.  Therefore, GST @ 10.50% will not be applicable.


Page: 1

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