GST, GoM
GoM proposes GST exemption on health insurance policies
The Group of Ministers has suggested GST exemption on term insurance and health insurance policies for senior citizens
GoM favours no GST on term life insurance, health insurance for senior citizens
States advocate for exempting health insurance premiums for seniors, term life insurance, and propose tax changes on various items.
GoM proposes exemption of health insurance premiums, term life cover from GST
The Group of Ministers (GoM) on GST rate rationalisation said on Saturday that health insurance premiums paid by senior citizens, and premiums paid on term life insurance will be exempted from GST, media reports said.
GoM likely to propose GST exemptions on life, health insurance premiums for senior sitizens
The GoM is of the view that pure-term life insurance and pure-term life insurance covering family members should be exempted from GST, sources added.
GoM bats for exemption of life insurance premium from GST: Report
Goods and services tax (GST) on term life insurance premiums, and premium paid by senior citizens for health cover is likely to be exempted from tax, an official said on Saturday.
GoM on Life & Health Insurance pitches for full GST exemption on premiums
Most of the panel members of the GoM led by Bihar Deputy Chief Minister Samrat Chaudhary pitched for “full exemption” on both the policies premiums, according to people aware of the developments. While a few panel members suggested to reduce the rate to 5% from current 18% on life insurance without input tax credit.
A Relief for Taxpayers?: GoM Proposes GST Exemption On Life And Health Insurance Premiums For Senior Citizens
In recent turn of events, the Group of Ministers (GoM) proposed to exempt Goods and Services Tax (GST) on term life insurance and health insurance premiums for senior citizens apart from the other proposed changes to the GST.
GST On Term Life Insurance Premium, Health Coverage For Senior Citizen Likely To Be Exempt
The GST Council addressed this issue during its September meeting, following discussions about the 18 per cent GST on life and health insurance premiums.
GST ministerial panel in favour of exempting term life insurance premium, health cover for senior citizens
GST GoM on rate rationalisation discusses rate hike on high-end wrist watches, shoes; GST on packaged water to be cut.
GoM Proposes To Raise GST On Luxury Shoes, Watches, Aims Revenue Boost By Rs 22,000 Cr
The GoM proposed to increase the GST rate on wristwatches priced above Rs 25,000 from 18 per cent to 28 per cent.
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GoM decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watches
The GoM proposed reducing GST on packaged drinking water of 20 litres and above to 5 per cent from 18 per cent. If the GoM's ...
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GoM may propose GST rejig on several items; likely to generate ₹22,000 crore surplus
In its meeting on Saturday (October 19) in New Delhi, "GoM rate Rationalisation discussed several proposals and is ...
GST GoM proposes major rate adjustments, aims to boost revenue by Rs 22,000 crore
Furthermore, the GoM is expected to discuss the possibility of increasing the GST on certain sin goods from the current rate of 18 percent to 28 percent, reversing earlier reductions.
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GoM To Cut GST On 20-Litre Water Bottles, Bicycles To 5%; Raise Rate On Shoes, Watches
The rate rejig decision taken by the GoM on GST rate rationalisation under Bihar Deputy Chief Minister Samrat Chaudhary would ...
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Revenue loss fears may impede GST slabs rejig plan
The GoM would be suggesting tax rate of health/medical insurance including individual, group, family floater and other ...
Will removal of 12% GST slab help simplify the tax framework?
The 12 percent GST which is levied on items like butter, ghee, fruit juice, and packed coconut water contributes only 5 ...