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Aditya Birla Sun Life Insurance Company Limited
Aditya Birla Sun Life Insurance Company Limited
Goods and Service Tax
Definition:
Goods and Service tax is the tax levied by the government on goods and services sold. The service tax falls under the category of indirect tax.
Description:
India is in the race to rank amongst the developed nations of the world. There are several factors, pulled together that pushes a country ahead making it globally competitive. GST is just a thread that improves India’s competitiveness as it has introduced one tax system. The tax system has simplified the process of doing business that are engaged in offering services and goods.
Insurance is a service sector that assures people to offer financial protection when there arises a loss. The service is guaranteed1 against the premium paid by the insured. The insurance company levies GST for the service they offer. These are the four GST types:
- Integrated Goods and Service Tax (IGST)
- State Goods and Service Tax (SGST)
- Central Goods and Service Tax (CGST)
- Union Territory Goods and Service Tax (UTGST)
Newly Added Terms
Most Appreciated Terms
Buy ₹1 Crore Term Insurance at Just ₹558/month*
ABSLI Salaried Term Plan
4 Plan Options
Life Cover upto 75 years
Option to Choose Death Benefit Payout – lumpsum or monthly
Inbuilt Terminal Illness Benefit
Life Cover
₹1 crore
Premium:
₹558/month*
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ADV/8/22-23/1248
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