GST Council to decide on GST rate for health, life insurance on Dec 21

Quick Summary:

The GST Council is gearing up for a pivotal meeting on December 21st, where a decision on the GST rate for health and life insurance will take center stage.

The Council is also considering proposals to increase GST on higher-priced footwear and wristwatches, potentially raising rates from 18% to 28%.

The average GST rate has now fallen below the revenue-neutral rate of 15.3 per cent, creating a need to initiate discussions on GST rate rationalization.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaAustraliaMaliNigerNigeriaOmanPakistan

Topics: Insurance GST Rate Health and Life Insurance GST GST Rate Rationalization GST Council Meeting Health Insurance Exemption Business news

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 21:52:54 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1004 words

Reading Time: 6 minutes read

Sentences: 34 lines

Sentence Length: 30 words per sentence (average)

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

Copyright Owner: © Times of India

News ID: 23663681

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