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Insurance cost to come down if GST Council recommends reduction in rate: FM
The Statesman
|December 03, 2024
Finance Minister Nirmala Sitharaman on Monday said the cost of insurance to the policy holder is expected to come down if the GST Council recommends a reduction in GST rate on health and life insurance policies.
The minister in a written reply in the Lok Sabha, said the GST Council in its September 9 meeting had recommended to constitute a Group of Ministers (GoM) to holistically look into the issues pertaining to GST on life insurance and health insurance.
She said that the matter of review of GST rates on life and health insurance is pending before the GoM.
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