GST Tip – 213

As per the Draft Determination of Value of Supply, there are specific provisions for the insurance premiums. The value for determining the supply is the premium amount paid by the policyholder reduced by the amount allocated for investment if the investment amount is made available to the policyholder before only.

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GST Tip – 70

The threshold limit for applicability of deduction of tax at source is reduced from Rs 10 Lacs to Rs 5 Lacs in the Revised Model GST Law released in November 2016.