A GROUP OF ministers (GoM) under the GST Council, tasked with deciding the levy on health and life insurance premiums, has submitted its report to the Council, a senior official said on Wednesday. The Council is likely to take up the matter for discussion in its meeting this Saturday in Jaisalmer in Rajasthan.
Meanwhile, the finance ministers of states are slated to meet Union finance minister Nirmala Sitharaman on Friday for pre-Budget consultations.
The GST Council, in addition to the issue of insurance premiums, is expected to take up another GoM's report on rate rejig of about 150 items for discussion in the Saturday meeting. Sources say the rate rationalisation exercise - hiking rates on some items while reducing on some others - is expected to fetch the Centre and states an additional revenue of around ₹22,000 crore per annum.
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