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Tax benefits can be availed subject to issuance of policy and other conditions as per prevailing tax laws. This feature is only available for Life Option.The critical illness benefit is an accelerated benefit and the death benefit will be reduced by the critical illness cover paid to the policyholder. To know more about the illnesses covered, please refer to the Sales brochure. Available under Life and Health and All in One options.Accidental Death Benefit is up to 2 Crores.
GST was introduced during 2007-08 budget session. On 17th December 2014, the current Union Cabinet ministry permitted the proposal for introduction GST Constitutional Amendment Bill. On 19th of December 2014, the bill was offered on GST in Loksabha. The Bill is presented in Budget session.
In simple term, GST is a tax that people need to pay on supply of goods & services. Any person, who is providing or supplying goods and services is responsible to charge GST. GST is the huge reform in indirect tax structure in Indian financial scenario since the economy originated to be opened up 25 years ago, at last looks set to become reality. The Constitution (122nd) Amendment Bill introduced in Rajya Sabha recently, on the back of a broad political agreement and heightened by the good aspirations of the Congress. Goods and Services Tax Reform was passed in Rajya Sabha and it will be set to bring in lok Sabha.
The proposed model of GST and the rate:
A dual GST system is scheduled to be implemented in India as proposed by the Empowered Committee under which the GST will be divided into two parts:
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