Insurers presently avail input tax credit on significant backend costs such as insurance commission, re-insurance, technology ...

Experts said the move to exempt GST on health and life insurance premiums would provide significant relief to households.

The insurance industry has welcomed the government’s move to consider exempting health and life insurance premiums from Goods ...

The Group of Ministers (GoMs), constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation, has proposed a complete exemption on health ...

After the PM's speech, the government later came out with details about the upcoming next-generation GST reform which is aimed at lowering tax rates for most daily use essential items, home appliances ...

The group of ministers on GST reform is set to recommend a complete exemption of goods and services tax on health and life ...

A proposal has been made to exempt premiums for life and health insurance from Goods and Services Tax (GST), a move that could bring down costs and boost insurance penetration.

Since its launch in 2017, GST has achieved much of its intended purpose—simplifying compliance, reducing the cascading effect of taxes, and creating a unified national market.

From an industry perspective, GST calibrated down to 5% may be preferred rather than a complete waiver, said Gurpal Singh ...

The additional cost from input credit reversal will likely be factored into the pricing of insurance policies, offsetting a large part of the intended relief for customers, they say ...

Tax experts believe the exemption could improve affordability but caution that expectations of a full 18% premium cut are ...

A panel of Indian state ministers on goods and services tax (GST) has proposed exempting tax on health and life insurance ...