GST Council may lower tax rate on insurance premium
The New Indian Express Vishakapatnam|December 19, 2024
THE 55th GST Council meeting in Jaisalmer is likely to take a decision on tax rate on insurance premium, as per finance ministry sources.
DIPAK MONDAL @ New Delhi

The GoM constituted on the issue had recommended complete waiver of GST on insurance for health insurance policies that provide a cover up to ₹5 lakh against the current rate of 18%. On all other policies, premium paid would continue to be taxed at 18%.

The Group of Ministers (GoM) constituted under Bihar deputy chief minister Samrat Choudhary has recommended complete waiver of GST on health insurance premium for senior citizens.

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