GST Council to deliberate on taxation of insurance premium
The Free Press Journal|September 09, 2024
The GST Council on Monday is expected to deliberate on a host of issues, including taxation of insurance premium, GoM's suggestions on rate rationalisation, and a status report on online gaming, sources said.
GST Council to deliberate on taxation of insurance premium

Sources said the fitment committee, comprising Centre and state tax officials, will present a report on GST levied on life, health and reinsurance premiums and the revenue implications.

The GST Council, chaired by Finance Minister Nirmala Nirmala Sitharaman and comprising state ministers, will decide on whether to reduce the tax burden on health insurance from the current 18 per cent or exempt certain categories of individuals, like senior citizens.

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