tax reduction

‘Paid Rs 5,467 GST…’: Finfluencer questions high tariffs on insurance premium renewals

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‘Paid Rs 5,467 GST…’: Finfluencer questions high tariffs on insurance premium renewals

There is a growing demand to reduce or eliminate the current 18% Goods and Services Tax (GST) rate on life and health insurance policies. The high GST rate on insurance premiums poses a significant obstacle, especially for individuals with limited incomes. The combination of high premiums and GST makes insurance products inaccessible to many. Ajit … Read more

‘Cost of health, life insurance…’: Nirmala Sitharaman shares crucial update on GST in Parliament

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‘Cost of health, life insurance…’: Nirmala Sitharaman shares crucial update on GST in Parliament

Finance Minister Nirmala Sitharaman said that the cost of insurance for policyholders is expected to decrease if the GST Council recommends reducing the GST rate on health and life insurance policies.  In a written response in the Lok Sabha on December 2, Sitharaman mentioned that during its meeting on September 9, the GST Council had … Read more