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GST Valuation of Insurance Policy Premium I CA Final I Indirect Tax I CA Satbir Singh

GST Valuation of Insurance Policy Premium I CA Final I Indirect Tax I CA Satbir Singh How to value #lifeInsurancePremium #GST #Rule32CGST
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Zindagi Life Insurance Company Limited (ZLICL) has collected premium from subscribers and it does not intimates the amount allocated for investment to subscribers at the time of collection of premium. During the month of September 2019, it has collected the following receipts:
Premium for only risk cover 25,00,000
Premium from new sub 40,00,000
Renewal Premium 80,00,000
Single premium on annnuity plan 1,00,00,000
All amounts are exclusive of tax. You are required to compute the value of supply by ZLICL in accordance with GST laws.




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