Services of general insurance business under service tax

By | December 9, 2013

Services of general insurance business under service tax

Services of general insurance business provided under following schemes –

(a)     Hut Insurance Scheme;

(b)     Cattle Insurance under Swarnajaynti Gram Swarozgar Yojna (earlier known as Integrated Rural Development Programme);

(c)      Scheme for Insurance of Tribals;

(d)     Janata Personal Accident Policy and Gramin Accident Policy;

(e)     Group Personal Accident Policy for Self-Employed Women;

(f)       Agricultural Pump set and Failed Well Insurance;

(g)     Premia collected on export credit insurance;

(h)     Weather Based Crop Insurance Scheme or the Modified National Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture;

(i)       Jan Arogya Bima Policy;

(j)       National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana);

(k)     Pilot Scheme on Seed Crop Insurance;

(l)       Central Sector Scheme on Cattle Insurance;

(m)  Universal Health Insurance Scheme;

(n)     Rashtriya Swasthya Bima Yojana; or

(o)     Coconut Palm Insurance Scheme;

Services of general insurance business provided under specified schemes are exempt from payment of service tax by admitting this service under negative list entry.

 

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