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The GST Council on Saturday decided to postpone decision on cutting taxes on health and life insurance policies for further examination, CNBC-TV18 has reported citing sources.
The GoM has informed the Council about lack of consensus.
The GST Council on Saturday decided to postpone decision on cutting taxes on health and life insurance policies for further examination, CNBC-TV18 has reported citing sources. The GoM has informed the Council about lack of consensus. After from this, the GoM report on rate rationalisation is also not being submitted, it reported. The GoM is likely to meet again in January.
The GST Council recommends 5% GST on ready-to-eat popcorn mixed with salt & spices if not pre-packaged, 12% on pre-packaged and labelled, 18% on caramel popcorn.
All used cars including EVs to attract 18% GST from current 12%; individual sales & purchases to continue at 12%.
The GST Council meeting is underway in Jaisalmer, Rajasthan. The decisions will be officially announced by FM Nirmala Sitharaman after the meeting.