(a) whether FICCI has prepared report in course of its survey in which they have expressed
apprehension that service tax on insurance premium will affecl business; and
(b) if so. the details thereof?
(a) whether FICCI has prepared report in course of its survey in which they have expressed
apprehension that service tax on insurance premium will affecl business; and
(b) if so. the details thereof?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S. S. PALANIMAN1CKAM)
(a) & (b) Yes, Sir. FICCI in its report has mentioned that increase in the service tax
is likely to result in increase in insurance premium payable in proportion to the risk premium component.