GST Council moves closer to reducing GST on life, health insurance premiums

Quick Summary:

This committee, composed of officials from both the Centre and states, analysed data and provided insights into how a rate reduction might impact taxpayers.

The rate reduction comes as monthly GST collections have been on a steady upward trend, creating room for taxpayer-friendly initiatives.

This move is expected to benefit millions of policyholders by reducing the overall cost of their insurance premiums.

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Article Details

Category: BusinessFinance

Markets: India

Topics: GST Council life insurance premium Health insurance GST update Gst on digital transactions Gst on lif insurance GST on health insurance Gst on helicopter services

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-09 @ 18:04:55 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 458 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 26 words per sentence (average)

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

Copyright Owner: © Business Standard

News ID: 22424603

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