Special Rates for Different Services have also increased with the Introduction of Krishi Kalyan Cess
- Air Travel Agent service
- Life Insurance Company
- Money changer Service
- Lottery Ticket Agent Service
Special Rates for Single Annuity Life Insurance Plans
New Amendment
For Single Premium Anuity Insurance Policies,
Insurance Premium is to be paid only in first year and not after that
In this case,
Rate prescribed are 1.4% of Total Premum Charged++Swachh Bharat Cess+Krishi Kalyan Cess
i.e. 1.5%
|
Year |
% of base fare (OLD RATE) |
Effective Rate of Service tax |
Effective Rate of Swachh Bharat Cess |
Effective Rate of Krishi Kalyan Cess |
Total Rate of Service Tax |
|
First Year (Single Premium) |
N/A |
1.4% |
0.10% |
0.10% |
1.5% |
|
Next Year |
N/A |
N/A |
N/A |
N/A |
N/A |
This is applicable only where the amount allocated for investment or savings on
behalf of policy holder is not intimated to the policy holder at the time of providing of service
