Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: VAT RATES :: ACCOUNTING STANDARD :: due date for vat payment :: form 3cd
 
 
« General »
 Income Tax Dept to probe deeper into suspicious bank accounts
 Modi may lower taxes to spur demand in his budget sops
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme

State seeks tax exemption on premium
January, 28th 2011

The Tamil Nadu government has asked the Union finance ministry to exempt the state government-sponsored health insurance schemes from service tax.

Industry representatives also expressed support to the proposal, saying this would not only bring down the premium charges, but would also bring more people below poverty line (BPL) into the insurance net.

Speaking at the pre-consultative meeting with the finance ministers of various state governments called by Union finance minister Pranab Mukherjee, Tamil Nadu finance minister K Anbazhagan said, An anomalous situation arises wherein the state ends up paying nearly Rs70 crore as service tax to the Union government every year while implementing the health insurance scheme in the state.

He said despite repeated requests on the same platform to exempt this scheme from service tax, the request was not considered favourably.

V Jagannathan, chairman and managing director, Star Health and Allied Insurance Company, said hospital bills should also be exempt from service tax and that it would bring down the premium charged to the customers.

Star Health covers a population of 270,000 through state-sponsored health insurance schemes in Tamil Nadu and Andhra Pradesh. At present, the two state governments spend around Rs1,200 crore as premium, of which 10 per cent goes as service tax, according to Jagannathan.

Health must be treated on a par with food and clothing. If the service tax is exempted on premium and claims, it would lead to substantial savings and boost the schemes, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions