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Two major changes related to insurance and GST soon to be implemented

Thursday - December 12, 2019 4:17 pm , Category : BUSINESS
Do not be deprived of information
Do not be deprived of information

Do you know 'this important' information related to the insurance policy and GST bill?

DEC 12 (WTN) - It is very important for a person to be aware of the changes happening around him in the 21st century. Because if you do not have the information, then maybe you can make a mistake, you might get upset or then you can get away with some kind of profit. Today, we give you such information, which is of great use to you. The first information is related to your insurance policy, while the second information is about the GST bill and its associated prize.
 
So the first thing to talk about is the insurance policy. If you are an insured person, then this information is of great use to you. For your information, let us know that IRDAI has announced a great facility to the insured. Accordingly, the insured can now choose a Third Party Administrator (TPA) of their choice at the time of purchasing or renewing an insurance policy. According to IRDA, under the sub-regulation of this new facility, the insured can choose the TPA of the choice with which the insurance company has a service level agreement for health services.
 
According to the new IRDA circular, the insurance company can limit the number of TPAs ​​based on the health insurance product and the geographical location of the policyholder and the policyholder must choose one of these TPAs ​​of their choice. As per the rules, at the time of purchasing or renewing the insurance policy, the insurance company will hand over the list of TPA to the customer, out of which he can choose the TPA of his choice.
 
At the same time, for your information, let us know that if the insurance company terminates the service of a TPA from the middle, then it will provide a list of all the TPAs ​​it holds to the insured person, then one of them will have to be chosen by the insured person. However, the policyholder will not have the right to insist on the termination of the service of a TPA or to provide healthcare services directly to the company.
 
On the other hand, if a policyholder has not selected a TPA, then the insurance company may allow the insured person to choose the TPA of his choice. Also, if there is only one TPA associated with an insurance company, then the policyholders need not be given an option.
 
Now, other information about the work, you need to know. The Modi government is preparing a new plan to deal with the ever-decreasing GST collection. To increase the GST collection, the government is now considering encouraging customers to collect the GST bill at the time of purchase. The government is now considering starting a lottery scheme for those taking the GST bill for shopping. According to the information, under the lottery scheme, the government will give prize money to the customers selected from the lucky draw.
 
Under this lottery scheme, the lottery will be opened for customers on a daily or monthly basis. This lottery scheme can include only those customers who take a copy of the bill after paying GST to the merchant to buy goods. When the customer receives any GST based bill, he will have to upload the GST bill on the dedicated portal or app to join the lottery scheme. The merchant's phone number, bill number, and GST number will be auto-captured on the portal's app and the winners will be named after the lottery system.
 
The government believes that customers will be tempted to pay GST under lottery prize and this will help in increasing GST collection. But there will be some conditions for joining this lottery scheme. For example, the minimum limit for bills to participate in the lottery will be fixed, and this will not include regular bills like electricity and water bills. By the way, now it has to be seen whether this scheme of the government attracts customers towards the GST bill or not?