GST Health and Wellness Bonanza

Announcing the outcome of 56th GST Council meeting, the Finance Minister of India Nirmala Sitharaman said all individual life insurance policies whether term life, ULIP or endowment policies and subsequent reinsurance are exempt from Goods and Service tax (GST).

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All individual health insurance policies, including family floater policies and policies for senior citizens and reinsurance thereof, will also be exempt from GST.