A Group of Ministers has proposed a full exemption of 18% GST on life and health insurance premiums for individuals in India.

Insurers presently avail input tax credit on significant backend costs such as insurance commission, re-insurance, technology ...

Experts said the move to exempt GST on health and life insurance premiums would provide significant relief to households.

A proposal has been made to exempt premiums for life and health insurance from Goods and Services Tax (GST), a move that could bring down costs and boost insurance penetration.

The Group of Ministers (GoMs), constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation, has proposed a complete exemption on health ...

After the PM's speech, the government later came out with details about the upcoming next-generation GST reform which is aimed at lowering tax rates for most daily use essential items, home appliances ...

The group of ministers on GST reform is set to recommend a complete exemption of goods and services tax on health and life ...

Tax experts believe the exemption could improve affordability but caution that expectations of a full 18% premium cut are ...

Currently, health and life insurance premiums attract 18% GST. For instance, a life insurance policy with a Rs 100 premium ...

From an industry perspective, GST calibrated down to 5% may be preferred rather than a complete waiver, said Gurpal Singh ...

A panel of Indian state ministers on goods and services tax (GST) has proposed exempting tax on health and life insurance ...

GST exemption for insurance for individuals is expected to result in an annual revenue loss of around Rs 9,700 crore, he ...