Affect of GST on Motor Policy premium

[maheshkulkarni]

How much affect will GST have on Motor Policy premium?

[mandeepS]

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

[shradhapande]

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

[Vaishali Shroff]

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. 

[Arti · Accepted solution]

Yes GST does effect the Premium of motor policies