The GoM on GST rate rationalisation on Saturday decided to exempt health insurance premiums up to Rs 5 lakh coverage and term life insurance premiums. It also proposed to cut tax rates on 20-litre packaged drinking water bottles, bicycles and exercise notebooks to 5 per cent, apart from suggesting higher 28 per cent tax on high-end wristwatches and shoes.
The government should bring down the existing GST on individual health insurance policies to 5 per cent from the existing 18 per cent to encourage people to buy these policies as a measure of social security, the Confederation of General Insurance Agents’ Associations of India appealed to the government on Tuesday.
The parliamentary panel on finance, led by MP Jayant Sinha, has recommended to reduce the Goods and Services Tax (GST) on health…
In a significant boost to the insurance segment in the country, the Standing Committee on Finance of the Lok Sabha…
As India awaits the Union Budget 2024 on February 1st, expectations for the insurance sector are buzzing! It’s important to…
