Instead, she suggested the members to write or take it up to discuss with their respective state's finance minister, so they can subsequently take the matter to the GST Council. States form two-thirds of the GST Council, which is a constitutional body.
Both life insurance and medical insurance premiums attract a GST rate of 18 per cent.
"A lot of members have given us suggestions on GST (on insurance premiums), which certainly I will take to the council, because the ultimate decision is in the council, where states together are two-thirds of the representatives, one-third is all the central government has," she said, speaking during the discussion on Finance Bill 2024-15, which was passed today.
"Tax has been there on medical insurance even before GST was introduced.
Denne historien er fra August 08, 2024-utgaven av The Business Guardian.
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Denne historien er fra August 08, 2024-utgaven av The Business Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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LANDMARK VERDICTS BY CJI CHANDRACHUD
DY. Chandrachud, who served as the 50th Chief Justice of India, retired from his post on Friday. Here isa snapshot of some of the most significant verdicts that he delivered.
SBI's net profits soar 28% in July-September quarter
SBI's net interest income rose 5.37 per cent to Rs 41,620 crore in the September quarter. Both quarters combined, it grew 5.54 per cent to Rs 82,745 crore.
Scalene Coffee Research Organization develops COPTERS
Scalene Coffee Research Organization, a member of Organisation De Scalene Foundation, a global leader in sustainable technology innovations, announces the launch of COPTERS (Coffee Pulping Water Recovery System) Technology, a groundbreaking water recovery system developed to reduce water wastage in the coffee pulping process drastically by recovering almost 90% of pulped water.
HealthEdge expands employer presence in India
HealthEdge, a visionary leader in the healthcare technology industry, proudly announces the opening of its new office in Bangalore.
HIT SIGNS MOU WITH GLOBAL CYBER UNIVERSITY
Hindustan Institute of Technology and Science (HITS) has strengthened its international ties by signing a renewed and extended MoU with the Global Cyber University (GCU) of South Korea.
MANAGEMENT CHANGES BEFORE AIR INDIA-VISTARA MERGER'
A head of the Air India and Vistara merger scheduled on November 12, the Air India Group on Friday announced a number of management changes.
India will develop complete solar manufacturing ecosystem in 4-5 years
India will develop the complete ecosystem of solar equipment manufacturing in the next four to five years compared to other countries which have taken over 20 years says Vineet Mittal, Founder and Chairman of Avaada Group.
Same sex marriage not legal in India
LGBTQ COMMUNITY
Sabarimala Temple
On 28 September 2018, a 4:1 majority of the Supreme Court held that barring women of menstruating age from entering the Sabarimala temple was unconstitutional.
WHAT CJI SAID
Not every resource owned by an individual can be considered a material resource of a community only because it meets the qualifier of material needs.
