Insurance and pension services (excluding reinsurance services)
Services Code \/ Classification (SAC)
GST
Scheme of Classification of Services
\n S.No.
\n Chapter, Section, Heading or Group
\n Service Code (Tariff)
\nService Description
\n(1)
\n(2)
\n(3)
\n(4)
\n 184
\nGroup 99713
\n\t
\nInsurance and pension services (excluding reinsurance services)
\n 185
\n\t
\n 997131
\npension services
\n 186
\n\t
\n 997132
\nLife insurance services (excluding reinsurance services)
\n 187
\n\t
\n 997133
\nAccident and health insurance services
\n 188
\n\t
\n 997134
\nMotor vehicle insurance services
\n 189
\n\t
\n 997135
\nMarine, aviation, and other transport insurance services
\n 190
\n\t
\n 997136
\nFreight insurance services and travel insurance services
\n 191
\n\t
\n 997137
\nOther property insurance services
\n 192
\n\t
\n 997139
\nOther non-life insurance services (excluding reinsurance services)
\n
\nExplanatory Notes:- Based on the Modifie<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ined in advance or dependent on the market value of assets supporting the plan; and, if related to employment, may or may not be portable with a change in employment. The duration of the period during which benefits are paid may be fixed in terms of a minimum or maximum; there may or may not be survivors' benefits. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rvices, cf. 997132 = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ces) and 997136 (Freight insurance services). Risks covered may include fire, theft, explosion, storm, hail, frost, natural forces, radioactive contamination and land subsidence = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Insurance and pension services (excluding reinsurance services)Services Code \/ Classification (SAC)GSTScheme of Classification of Services S.No. Chapter, Section, Heading or Group Service Code (Tariff) Service Description (1) (2) (3) (4) 184 Group 99713 Insurance and pension services (excluding reinsurance services) 185 997131 pension services 186 997132 Life insurance services (excluding reinsurance services) … Continue reading “Insurance and pension services (excluding reinsurance services)”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8669","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8669"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/8669\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n This service code does not include:
\n – portfolio management services (except pension funds), cf.997153
\n – trust services, cf. 997154
\n – pension fund management services, cf. 997164
\n – pension fund administration, cf. 997169
\n997132 – Life insurance services (excluding reinsurance services)
\n This service code includes:
\n – underwriting services of insurance policies which provide for the payment of claims to beneficiaries contingent upon the death of the insured individual or upon the maturation of the policy. Policies may provide pure protection or may also contain a savings component. Policies may cover individuals or members of groups.
\n This service code does n<\/p>\n
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\n – travel insurance services, cf. 997136
\n997134 – Motor vehicle insurance services
\n This service codes includes:
\n – underwriting services of insurance policies which cover risks relating to the use of motor vehicles, including those used to transport paying passengers. Risks covered include liability and loss of or damage to the vehicle.
\n – freight motor vehicle insurance services
\n997135 – Marine, aviation, and other transport insurance services
\n This service code includes:
\n – underwriting services of insurance policies which cover risks relating to the use of commercial passenger and freight vessels, whether operating on oceans, coastal waterways or inland waterways, commercial aircraft, railway rolling stock
\n – satellite launching insurance services
\n Note: Risks covered include liability, hull damage or loss of the vessel, and loss of or damage to aircraft or railway rolling stock
\n This service code does not include:
\n – underwriting services of insuranc<\/p>\n
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\n – underwriting services of insurance policies for non-commercial vessels and aircraft
\n – underwriting services of insurance policies for boilers and machinery, which covers property spoilage from lack of power, light, heat, steam or refrigeration
\n997139 – Other non-life insurance services (excluding reinsurance services)
\n This service code includes:
\n – underwriting services of insurance policies which cover risks of all types of liability including liability for defective products, bodily injury, property damage, pollution, malpractice, etc., other than liability covered in service code 997134 (Motor vehicle insurance services), 997135 (Marine, aviation and other transport insurance services) and 997137 (Other property insurance services)
\n – underwriting services of insurance policies which cover risks o<\/p>\n
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