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Frequent Contributor
Posts: 88
Registered: ‎02-08-2016

Affect of GST on Motor Policy premium

How much affect will GST have on Motor Policy premium?

3 REPLIES 3
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Frequent Contributor
Posts: 97
Registered: ‎22-08-2016

Re: Affect of GST on Motor Policy premium

I suppose every policy buyer will be required to pay up to 300 basic points more in taxes.

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Contributor
Posts: 46
Registered: ‎15-09-2016

Re: Affect of GST on Motor Policy premium

In my view it will depend on the type of policy you choose, but term policies may have higher chances of getting effected.

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Contributor
Posts: 22
Registered: ‎12-09-2017

Re: Affect of GST on Motor Policy premium

I think for General Insurance pre GST the taxes were 15% and now it has increased to 18%

 

I was looking for motor policy, i calculated the Premium pre and post GST and an executive was coordinating for the same, when asked about the difference in Premium, he said it is the GST effect.