Service Tax on Insurance premium payments before the financial year

POSTED BY uss1003 ON April 2, 2015 6:27 pm COMMENTS (6)

I got call from my Insurance provider(ICICI Prudential) stating that Service tax on Insurance payments has increased, effective 1st Apr’15 and asked to pay the premium before 31st Mar’15. My actual due date is 8th Apr’15.

Is this true? Please advise.

Sarma US

6 replies on this article “Service Tax on Insurance premium payments before the financial year”

  1. Priya says:

    Thanks for sharing the information with us.

    1. Jagoinvestor Admin says:

      Thanks for your comment Priya

  2. saginfotech says:

    Yes, It is true that our Indian Government increases the service tax amount to 14%. Now we have to pay the current figure.

  3. Prashant says:

    Yes, that’s true. Service tax has been raised from 12.36% to 14% effective 1st June 2015. And, yes don’t forget to claim section 80D deductions for health insurance premium paid in your Income Tax Return.

  4. Hemanth says:

    ya…. service tax is increased from 12.5% to 14 % effective 1-apr-15 mentioned in the new budget….

    1. uss1003 says:

      Thank yo, Hemanth.

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