GST, Term life insurance
GST on senior citizen health insurance premiums may be exempt; luxury watches, shoes to draw 28%
Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man,
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
Govt Likely To Approve GST Exemption On Senior Citizen Health Insurance Premiums
In a separate meeting, the GoM on GST rate rationalisation suggested adjustments to tax rates on various goods, including packaged drinking water, bicycles, exercise notebooks, luxury watches & shoes
GST panel bats for exemption on insurance premium, health cover for senior citizens; reduces tax on 20L water bottles, bicycles
The GoM on rate rationalisation in its previous meeting had discussed tax rate tweaks on over 100 items, including lowering taxes on certain goods from 12 to 5 percent to give relief to the masses.
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 for freeing health insurance for senior citizens, all policies up to ₹5-lakh cover from GST burden
GoM lowers GST rates on water, bicycles, notebooks to 5%, proposes hike on high-end watches, shoes. Revenue gain expected.
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 decides to cut GST on 20-litre water bottles, bicycles to 5%; raise rate on shoes, watches
GST rate rationalisation GoM lowers tax on water, bicycles, notebooks to 5%, proposes hike on watches, shoes. Revenue gain ...
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GST panels propose slew of tax tweaks; rate changes likely for 100+ products
The GoM, which met on Saturday, will submit a report to the GST Council by October-end, which will finally take a call on the ...
GST rates to be cut on 20 litre water bottles and bicycles to 5%, raised for luxury shoes, watches, and beauty products
The estimated revenue gain from all the new changes made by the GoM on GST rationalisation would be ₹22,000 crore ...
GoM proposes to raise GST on luxury shoes, watches, aims revenue boost by Rs 22,000 cr
In a significant development, the Group of Ministers (GoM) on Saturday agreed upon some Goods and Services Tax (GST) rate ...
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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 ...
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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 ...
Can the 12% GST slab be done away with to 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 ...