Calculate the value of supply for GST purposes in each of the plans launched by Insurance company on the E platform of SWAL in the case study.

As per Rule 32 (4) of the CGST Rules, 2017, the value of supply under GST for each of the plans would be as follows: Plan 1: Investment-Linked Policy Rule 32 (4) (a): The gross premium is reduced by the amount allocated for investment/savings. Gross premium:1,00,000 Investment/savings allocation:60,000 Value of supply:1,00,000 -60,000 = 40,000 Plan 2: Single Premium Annuity Rule 32 (4) (b): For single premium annuity policies, the value is 10% of the single premium. Single premium:5,00,000 Value of supply: 10% of 5,00,000 = 50,000 Plan 3: Regular Life Insurance Rule 32 (4) (c): For regular policies, the value is 25% of the premium in the first year and 12.5% of the premium charged from the policy holder in subsequent years. First Year: Premium:80,000 Value of supply: 25% of 80,000 = 20,000 Second Year and onward: Premium:80,000 Value of supply: 12.5% of 80,000 = 10,000 Plan 4: Pure Risk-Cover Policy Proviso to Rule 32 (4) If the entire premium is for risk cover, the rule doesn't apply. The entire premium charged from the policy holder is the taxable value. Premium:50,000 (entirely for risk cover) Value of supply:50,000