Swachh Bharat cess on Insurance Premium

Swachh bharat cess on Insurance premium

Government vide Notification No. 22/2015-Service Tax dated 6 November 2015, has imposed a  Swachh Bharat Cess (SBS)at the rate of 0.5% on all services, which are presently liable to service tax with effect from 15 Novemeber,2015. Hence the revised rate (effective from 15/11/2015) shall be 14% Service tax plus 0.50% SBS i.e. 14.50%. Impact of Swachh […]

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LIC may soon withdraw Jeevan Akshay VI

After the gazette notification issued by Insurance Regulatory and Development Authority of India (IRDAI) on 14/10/2015 for annuity plans offered by Life Insurers, LIC of India may soon withdraw or relaunch (with modifications) its Immediate Annuity Plan Jeevan Akshay VI. The Authority may issue separate instructions for withdrawing the products which are not in compliance with […]

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