Service tax on general insurance: insurer-provided services to policyholders are taxable under defined insurance definitions. Service tax applies to services provided by an insurer, including reinsurers, to a policy holder or any other person in relation to general insurance business; general insurance business covers fire, marine and miscellaneous insurance but excludes redemption business and annuity certain business, while insurer and policy holder are defined to include reinsurers and assignees of whole interests respectively; a consolidated circular supersedes prior technical clarifications on scope, classification, valuation, export, exemptions and related service tax matters.
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Provisions expressly mentioned in the judgment/order text.
Service tax on general insurance: insurer-provided services to policyholders are taxable under defined insurance definitions.
Service tax applies to services provided by an insurer, including reinsurers, to a policy holder or any other person in relation to general insurance business; general insurance business covers fire, marine and miscellaneous insurance but excludes redemption business and annuity certain business, while insurer and policy holder are defined to include reinsurers and assignees of whole interests respectively; a consolidated circular supersedes prior technical clarifications on scope, classification, valuation, export, exemptions and related service tax matters.
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