Insurers presently avail input tax credit on significant backend costs such as insurance commission, re-insurance, technology ...

Since its launch in 2017, GST has achieved much of its intended purpose—simplifying compliance, reducing the cascading effect of taxes, and creating a unified national market.

Experts said the move to exempt GST on health and life insurance premiums would provide significant relief to households.

GoM approves two-slab GST structure at 5% and 18%, simplifying tax regime under Nirmala Sitharaman's leadership for household savings and business ease.

The proposal has received similar recommendations from the GoM. However, a few state ministers have proposed an additional cess on top of the 40 per cent GST slab ...

After the PM's speech, the government later came out with details about the upcoming next-generation GST reform which is aimed at lowering tax rates for most daily use essential items, home appliances ...

Tax experts believe the exemption could improve affordability but caution that expectations of a full 18% premium cut are ...

GoM approves streamlining GST rates to a simplified 5% and 18% two-slab structure, eliminating 12% & 28% slabs.

With GST rate rationalisation, the tax on cars, two-wheelers, three-wheelers, trucks and buses will reduce to 18% from 28%.

Health insurance is meant to bridge that gap, but the reality is different. Premiums for senior citizens are already steep, and an additional 18% Goods and Services Tax (GST) only makes them heavier.

As the Centre prepares to revamp GST rates, the Federation of Hotel & Restaurant Associations of India (FHRAI) has urged Finance Minister Nirmala Sitharaman to implement a uniform 5 ...

The additional cost from input credit reversal will likely be factored into the pricing of insurance policies, offsetting a large part of the intended relief for customers, they say ...