General insurance business - Service Tax Practice Manual / Ready Reckoner - Service Tax

Chapter 26 General insurance business (w.e.f 1st July, 2012) Scope of Exempt Service - Notification no. 25/2012 dated 20.06.2012 From 1.7.2012 to 29-4-2015 26. Services of general insurance business provided under following schemes - ( a ) Hut Insurance Scheme; ( b ) Cattle Insurance under Swarnajaynti Gram Swarozgar Yojna (earlier known as Integrated Rural Development Programme); ( c ) Scheme for Insurance of Tribals; ( d ) Janata Personal Accident Policy and Gramin Accident Policy; ( e ) Group Personal Accident Policy for Self-Employed Women; ( f ) Agricultural Pumpset and Failed Well Insurance; ( g ) premia collected on export credit insurance; ( h ) Weather Based Crop Insurance Scheme or the Modified National Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture; ( i ) Jan Arogya Bima Policy; ( j ) National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana); ( k ) Pilot Scheme on Seed Crop Insurance; ( l ) Central Sector Scheme on Cattle Insurance; ( m ) Universal Health Insurance Scheme; ( n ) Rashtriya Swasthya Bima Yojana; or ( o ) Coconut Palm Insurance Scheme; From 30.4.2015 to 31.3.2016 - Notification no. 12/2015 - Dated 30-4-2015. 26. Services of general insurance business provided under following schemes - ( a ) Hut Insurance Scheme; ( b ) Cattle Insurance under Swarnajaynti Gram Swarozgar Yojna (earlier known as Integrated Rural Development Programme); ( c ) Scheme for Insurance of Tribals; ( d ) Janata Personal Accident Policy and Gramin Accident Policy; ( e ) Group Personal Accident Policy for Self-Employed Women; ( f ) Agricultural Pumpset and Failed Well Insurance; ( g ) premia collected on export credit insurance; ( h ) Weather Based Crop Insurance Scheme or the Modified National Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture; ( i ) Jan Arogya Bima Policy; ( j ) National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana); ( k ) Pilot Scheme on Seed Crop Insurance; ( l ) Central Sector Scheme on Cattle Insurance; ( m ) Universal Health Insurance Scheme; ( n ) Rashtriya Swasthya Bima Yojana; or ( o ) Coconut Palm Insurance Scheme; (p) Pradhan Mantri Suraksha Bima Yojna. Amending Notes w.e.f. 30.4.2015 - Service tax on services of General Insurance business provided under Pradhan Mantri Suraksha Bima Yojana (PMSBY) have been exempted. From 1.4.2016 - Notification No. 09/2016 - Dated 1-3-2016 26. Services of general insurance business provided under following schemes - ( a ) Hut Insurance Scheme; ( b ) Cattle Insurance under Swarnajaynti Gram Swarozgar Yojna (earlier known as Integrated Rural Development Programme); ( c ) Scheme for Insurance of Tribals; ( d ) Janata Personal Accident Policy and Gramin Accident Policy; ( e ) Group Personal Accident Policy for Self-Employed Women; ( f ) Agricultural Pumpset and Failed Well Insurance; ( g ) premia collected on export credit insurance; ( h ) Weather Based Crop Insurance Scheme or the Modified National Agricultural Insurance Scheme, approved by the Government of India and implemented by the Ministry of Agriculture; ( i ) Jan Arogya Bima Policy; ( j ) National Agricultural Insurance Scheme (Rashtriya Krishi Bima Yojana); ( k ) Pilot Scheme on Seed Crop Insurance; ( l ) Central Sector Scheme on Cattle Insurance; ( m ) Universal Health Insurance Scheme; ( n ) Rashtriya Swasthya Bima Yojana; or ( o ) Coconut Palm Insurance Scheme; (p) Pradhan Mantri Suraksha Bima Yojna; (q) Niramaya‟ Health Insurance Scheme implemented by Trust constituted under the provisions of the National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999). Amending Notes w.e.f. 1.4.2016:- Services of general insurance business provided under Niramaya Health Insurance scheme launched by National Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disability in collaboration with private/public insurance companies has been exempted from service tax. Meanings and Definitions: general insurance business has the meaning assigned to it in clause (g) of section 3 of General Insurance Business (Nationalisation) Act, 1972 (57 of 1972).