GST levy or not

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3 Points Posted on 22 February 2020
"Whether GST is levied on life insurance maturity amount?"...after deducting TDS in Income Tax.
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On 22 February 2020 at 17:36 Report
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This discussion clarifies whether Goods and Services Tax (GST) is levied on the maturity amount of life insurance policies. The consensus is that GST is not applicable to the maturity amount. This is because it is not listed as an exempted item and, crucially, it is not considered a 'supply' under GST law.

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"Do the Right Thing...!!!"
128162 Points Posted on 22 February 2020
No... GST not applicable for the maturity amount.
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On 22 February 2020 at 18:33
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3 Points Posted on 22 February 2020
Reason for this why no GST.....coz it is not in exemption list
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On 22 February 2020 at 21:17
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Manger Accounts & Finance
363 Points Posted on 23 February 2020
GST not applicable, because it's not covered under supply as per GST LAW
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On 23 February 2020 at 21:21

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