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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 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 suggests higher GST rates for premium products, relief for senior citizens' health insurance
A group of ministers (GoM) examining Goods and Services Tax (GST) rates has proposed moving certain premium shoes and watches into the 28% tax bracket from the current 18%. This price-based GST approach may affect more high-end products.
GoM likely to propose GST exemptions on life, health insurance premiums for senior citizens
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 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 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.
GST On Term Life Insurance Premium, Health Coverage For Senior Citizen Likely To Be Exempted
The GST Council addressed this issue during its September meeting, following discussions about the 18 per cent GST on life and health insurance premiums.
Senior citizen health cover, term insurance likely to be GST-free
A group of state finance ministers is leaning towards exempting GST on term insurance plans and health insurance for seniors. They are also considering raising GST on luxury items like expensive watches and shoes to 28%,
Term life insurance, health cover for senior citizens may get GST exemption
Exercise notebooks, cycles under Rs 10,000, 20 litre plus water package, to attract lower 5% GST; Rs 15,000+ shoes, Rs 25,000+ watches may be taxed at higher 28%.
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.
GST on term life insurance premium, senior citizens likely to be exempted
The Group of Ministers (GoM) on Saturday more or less decided to exempt the goods and services tax (GST) on term life insurance premiums and premiums paid by senior citizens for health cover.
8h
on MSN
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.
ET Now on MSN
9h
No GST on these transactions? Big update from GST Council GOM
The GoM also discussed GST for packaged water above 20 litres at 5%. The other proposals that GoM discussed today were ...
10h
on MSN
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 ...
cnbctv18
10h
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 ...
12h
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.
ndtvprofit
10h
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 ...
The Financial Express
1d
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 ...
1d
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 ...
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