Zero tax on life and health insurance likely in new GST regime
Choudhary, who heads the 13-member GoM, said the panel will submit its detailed report to the GST Council by October for deliberation.
While the GoM broadly favours a full exemption for individual health and life insurance policies, some states have flagged revenue loss concerns that could shape the final outcome at the GST Council's October meeting.
A complete exemption would also deprive insurers of input tax credits on operational costs, which could result in higher premiums or reduced agent commissions.
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