New GST Rates For: Insurance

Sl.No. HSN Code Description of Service Prior to 22.09.2025 On or after 22.09.2025
1 9971 (i) All individual health insurance, along with reinsurance thereof 18% with ITC NIL
(ii) All individual life insurance, along with reinsurance thereof 18% with ITC NIL
(iii) Re-insurance of insurance services specified in clauses (i) & (ii) above 18% with ITC NIL

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