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GST cut on medical insurance deferred, issue referred to Group of Ministers
The Daily Guardian
|September 10, 2024
A Group of Ministers has been tasked to look into GST rates related to medical insurance and come up with a report by October so that the GST Council can take up the matter in the November meeting.
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"There were a lot of discussions about whether we should reduce the rate or exempt it, whom should we exempt and whom should not, what happens to group insurance; are we going to carve out only for senior citizens, will this not complicate the implementation?" Finance Minister Nirmala Sitharaman told reporters after hours-long GST Council meeting held on Monday. A lot of issues were brought up for further discussion today in the GST Council, Sitharaman said, adding that which is why they felt it should go through a rigorous looking into by the GoM. It will be the rate rationalisation GoM headed by the Deputy Chief Minister of Bihar but with newer members added for this limited p
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