GST

GST Reduction on Life & Health Insurance Under Review: Finance Minister Sitharaman December 3, 2024 Finance Minister Nirmala Sitharaman stated that GST on life and health insurance could be reduced, lowering costs for policyholders. The GST Council will discuss the proposal on December 21.

GST on Life & Health Insurance: GoM Recommendations Awaited November 26, 2024 The GoM formed to address issues related to GST on life and health insurance will submit its recommendations to the GST Council upon completion of its review.

GST Council to Discuss Insurance Premium Rate Cuts in 55th Meeting November 22, 2024 55th GST Council Meeting to consider reducing GST on insurance premiums, with key proposals for senior citizens and health coverage exemptions

GST Reduction Expected to Make Insurance More Affordable, Says Finance Dept October 23, 2024 The Department of Finance reports that GST reduction will lead to lower insurance costs. A GoM is set to recommend exemptions for term life and health insurance premiums, particularly for senior citizens.

GST Panel to Review Tax on Health & Life Insurance Premiums September 27, 2024 The GoM is reviewing GST rates on health and life insurance premiums and will submit its recommendations to the GST Council by October's end.

GST Council Forms GoM to Review Tax Rates on Health Insurance September 10, 2024 GST Council chairperson Nirmala Sitharaman stated that the Council could take several crucial decisions in its next meeting, set for November during the festive season.

FM Nirmala Sitharaman Addresses GST Concerns on Health & Life Insurance Amid Protests August 8, 2024 Sitharaman emphasized that taxes on medical insurance existed before the GST implementation.

INDIA Bloc Protests Against GST on Health, Life Insurance Premiums August 7, 2024 The protest marks the first joint opposition action against GST rates on a specific service, underscoring the critical role of insurance for the middle and lower-middle classes.

Mamata Banerjee Urges Central Govt to Remove GST on Insurance Premiums August 5, 2024 She emphasized that the 18% GST rate on insurance premiums is counterproductive and harms the financial well-being of ordinary citizens.

Gadkari Urges FM to Scrap 18% GST on Medical Insurance Premiums August 1, 2024 Gadkari's proposal goes a step further, seeking the complete removal of GST on both life and medical insurance premiums.

Union Budget 2024: Healthcare Industry Demands Rationalised GST, Increased Fund Allocation & Technology Integration February 1, 2024 Over the past few years, spending on the healthcare sector has seen a steady increase. Industry stakeholders expect the trend to continue in Budget 2024.