The Goods and Services Tax (GST) Council is expected to decide on new GST rates for health and term insurance policies during the meeting on September 9, 2024.

Know the changes in the GST return filing procedures, effective September 2024.

West Bengal CM Mamata Banerjee requested Union Finance Minister Nirmala Sitharaman to review the “anti-people taxation policies” and withdraw GST on life and health insurance premiums.

After Gadkari, other ministers, including those from the Opposition parties have called for removal of GST on medical and life insurance policies. For senior citizens already grappling with limited income sources and high premiums on health insurance products, such a step could prove to be a boon and a life saver

Lower GST rates and additional deductions on life, annuity, and health insurance products are some expectations the industry believes will enhance insurance penetration in the country.

Senior citizens must consider the pros and cons before venturing into digital gold, such as volatility, transaction costs, convertibility into physical gold, taxation, etc. Learn more