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GoM to propose GST exemption on health, life insurance for individuals
August 21, 2025
|Business Standard
The group of ministers (GoM) on health and life insurance is set to propose exempting insurance premiums for individuals from goods and services tax (GST), Bihar Deputy Chief Minister Samrat Choudhary, who is convener of the GoM, said on Wednesday.
At present, 18 per cent is levied on health and life insurance premiums for individuals.
"The Centre's proposal is to exempt health and life insurance premiums for families and individuals. All members agreed with the proposal. However, some states have expressed concern over the Centre's proposal to exempt health and life insurance premiums from GST," he said after a meeting of the GoM, adding they would submit a report to the GST Council.
According to finance ministry sources, the council is likely to meet in the third week of September.
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