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Bengal's efforts forced Centre to exempt GST on health premium: CM Mamata

Business Standard LogoBusiness Standard5h ago

Bengal's efforts forced Centre to exempt GST on health premium: CM Mamata - Business Standard

Quick Summary:

West Bengal Chief Minister Mamata Banerjee on Saturday claimed that the Centre's likely decision to exempt GST on term life insurance premiums and premiums paid by senior citizens for health coverage is the result of sustained efforts by the state government.

An official stated that term life insurance policies and health insurance premiums for senior citizens are likely to be exempt from GST, as most members of a state ministerial panel favoured tax cuts to benefit the public.

The GoM (Group of Ministers), which met on Saturday to decide on GST for health and life insurance premiums, chose to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance coverage up to Rs 5 lakh.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-19 @ 23:44:41 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 503 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23128024

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 159 posts per day

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News Last Updated: 6 hours ago

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Publisher ID: #49

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