GOVERNMENT OF INDIA
MINISTRY OF FINANCE
UNSTARRED QUESTION NO: 2783
ANSWERED ON: 02.12.2016
GST on Insurance Premium
SUKENDER REDDY GUTHA
PREM SINGH CHANDUMAJRA
Will the Minister FINANCE.
be pleased to state:-
(a) whether the Government proposes to collect Goods and Services Tax (GST) on insurance premium, if so, the details thereof;
(b) whether the Government has received any representations from insurance companies to exclude insurance premium from the ambit of GST, if so, the details thereof;
(c) whether the Government proposes to impose tax on e-commerce companies under the GST and additional levy on foreign e-commerce companies; and
(d) if so, the details thereof and the reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI SANTOSH KUMAR GANGWAR)
(a)&(b): Government has received representation from Life Insurance Council for zero rating of life insurance services. A view in this regard is to be taken by GST Council.
(c) & (d): A view in this regard is to be taken by GST Council.