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GST Council Meeting

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Business

October 19, 2024

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GST On Term Life Insurance Premium, Health Coverage For Senior Citizen Likely To Be Exempt

GST On Health Insurance Premium: The Group of Ministers (GoM) is expected to recommend exempting goods and services tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens. However, the Official’s premiums paid for health insurance coverage of above Rs 5 lakh will continue to attract 18 per cent GST. […]

Business

October 04, 2024

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GST Panel Deliberates On Lowering Rate On Health Insurance, Tractors

New Delhi: As the government focuses on GST 2.0 which further eases tax laws, enhance tax simplification and adoption of technology, the ministerial panel tasked to rationalise rates is deliberating on lowering GST on essential items like health insurance and tractors up to 5 per cent. As tractor segment volumes saw marginal growth (year-on-year) in […]