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2 days, 9 hours ago

What gets cheaper, what is costlier after GST Council meet? Details here

The 55th GST Council meeting, chaired by Union finance minister Nirmala Sitharaman in Jaisalmer, Rajasthan, on Saturday, brought changes affecting the prices of various goods and services. 2) Rice kernels, AAC blocks, raisins, pepper The GST Council has cut GST rates on the fortified rice kernels used for public distribution to 5% from 18% earlier. 4) Quick commerce, ecommerce, food …

Council Rate Sitharaman Gst Decision Insurance Premiums Gst Council

2 days, 19 hours ago

GST council explains difference in tax rates between salted and caramel popcorn

Hindustan Times

The GST Council on Saturday decided to issue a clarification regarding the taxation levied on popcorn, stating that there would be no change in the existing rate, reported news agency PTI. Union finance minister Nirmala Sitharaman speaks at the 55th meeting of the GST Council The council stated that pre-packed and labelled ready-to-eat snacks would be subject to a 12 …

Tax Rate Insurance Premiums Nirmala Sitharaman Gst Council Caramel Popcorn

2 days, 21 hours ago

CREDAI expresses concern over proposed 18% GST on Floor Space Index premiums

The Hindu

The Confederation of Real Estate Developers’ Associations of India has expressed deep concerns over the government’s proposal to impose an 18% Goods and Services Tax on Floor Space Index and additional FSI premiums. The proposed GST on FSI premiums, they warned, could further escalate property prices by 7-10%, jeopardising affordable housing projects. “The proposed GST could make homeownership more expensive …

India Housing Tax Gst Premiums Itc Credai

2 days, 22 hours ago

GST council meeting: What gets cheaper & dearer - from popcorn to EV sale

Live Mint

GST Council Meeting: Finance Minister Nirmala Sitharaman-led goods and services tax Council Meeting on Saturday, December 21, decided to levy an 18 per cent GST on margin value on sale of used electric vehicles by businesses and clarified on the taxability of popcorn, saying caramel popcorn will continue to attract tax at the rate of 18 per cent. The GST …

Finance Insurance Tax Health Insurance Council Cent Rate

GST Council Delays Decision On Tax Reduction For Life, Health Insurance Premiums

ABP News

The GST Council on Saturday deferred its decision on reducing the tax rate on life and health insurance premiums, according to officials. The GoM also recommended exempting GST from health insurance premiums paid by individuals, excluding senior citizens, for policies with coverage up to Rs 5 lakh. However, premiums for health insurance policies offering coverage exceeding Rs 5 lakh will …

Insurance Tax Council Senior Citizens Cent Gst Premiums

3 days, 12 hours ago

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

New Indian Express

The 55th Goods and Services Tax Council meeting, held in Jaisalmer, Rajasthan, under Finance Minister Nirmala Sitharaman on Saturday, deferred discussions on the much-anticipated proposal to restructure GST on insurance premiums. The GST Council also postponed discussions on the widely discussed rate rationalisation for various consumer items, including so-called ‘sin’ products. Under the current GST framework, e-commerce platforms face specific …

Council Gst Insurance Premiums Gst Council

1 week, 4 days ago

GST Council Meeting: Industry eyes tax relief on health insurance premiums, higher levies on luxury items

Live Mint

Industry experts expect a reduction in GST rates on health insurance at the forthcoming GST Council meeting on December 21, 2024. However, if health insurance is exempted from GST for all or specified persons, the insurance companies would lose out on input tax credits to that extent and accordingly, the reduction in costs can be less than the amount of …

Health Insurance Tax Health Insurance Gst Council Gom Mani

1 month ago

GST Council’s December Meet: Waiver of levy on health, life insurance premiums on agenda

Live Mint

The GST Council will convene its 55th meeting on December 21 in Jaisalmer, Rajasthan, to address crucial policy changes, including possible tax relief on health and life insurance premiums. The council, chaired by Union Finance Minister Nirmala Sitharaman and including state finance ministers, is expected to also deliberate on rate reductions for essential goods, as per a report by PTI. …

Insurance Council Rate Gst Gst Council Gom

2 months ago

West Bengal's relentless efforts pay off as Centre considers GST exemption for health insurance premiums

The Hindu

West Bengal Chief Minister Mamata Banerjee claims that the Centre's likely decision to exempt Goods and Services Tax (GST) on term life insurance premiums and premiums paid by senior citizens for health coverage is the result of sustained efforts by the State Government. The Chief Minister shared a letter she had written to the Union Finance Minister in August, warning …

West Bengal

3 months, 1 week ago

Group of Ministers to review tax rates on health, life insurance

The Hindu

The GST Council constituted a 13-member Group of Ministers on Sunday to suggest GST rates on premiums of various health and life insurance products. It will also suggest tax rates on life insurance, including term insurance, and life insurance with investment plans, whether individual or group, and re-insurance. Some opposition-ruled states, including West Bengal, had demanded complete exemption for health …

Health Insurance Life Tax Life Insurance Gst Premiums

3 months, 2 weeks ago

Priorities askew with high insurance tax, cheaper fried snacks

New Indian Express

The GST Council, which reviews the goods and services tax levied on specific items and categories, has thoughtfully reduced the tax on a few cancer drugs and on educational institutions’ R&D services. But for reasons that are still cloudy, the council has also given cholesterol a boost by reducing the rate on fried snacks to 12 percent and rewarded high-fliers …

Tax Health Services Gst

3 months, 2 weeks ago

GST Council delays decision on insurance premiums to next meeting: Report

India Today

The wait for relief on health insurance premiums just got a bit longer as the GST Council has postponed its decision to cut the Goods and Services Tax on health and life insurance. The GST Council meeting was expected to bring some relief to individuals, especially senior citizens, by reducing the GST rate applied to health insurance policies. The council …

Health Insurance Council Rate Gst Premiums Insurance Premiums

3 months, 2 weeks ago

GST Council lowers tax on cancer drugs to 5%, to finalise cuts on health and life insurance premiums

New Indian Express

MUMBAI: After much hue and cry over 18% GST on health and life insurance premiums, the GST Council in its 54th meeting on Monday reached a broad consensus on reducing taxes and decided to constitute a Group of Ministers to deliberate on the issue. In the meeting chaired by Finance Minister Nirmala Sitharaman, the GST Council also made several key …

Council Rate Gst Gst Council Gom

3 months, 2 weeks ago

What GST Council has decided on demands of tax cuts in health insurance premiums | Details

India TV News

The GST Council on Monday set up a new Group of Ministers on rate reduction on medical health insurance, Finance Minister Nirmala Sitharaman announced. The medical health insurance GoM which has been set up is essentially the already established GoM on rate rationalisation, headed by the Deputy Chief Minister of Bihar Samrat Chaudhary. The GoM will have to make deliberations …

Health Insurance Medical Council Minister Sitharaman Gst

3 months, 4 weeks ago

GST Council meet: TMC's O'Brien urges Sitharaman to withdraw 18% GST on insurance premiums

The Hindu

TMC leader Derek O'Brien has urged Finance Minister Nirmala Sitharaman to "urgently review" and withdraw the 18% GST on health and life insurance premiums during the upcoming GST Council meeting. Mr. O'Brien, in a letter dated August 24, demanded that the GST on health and life insurance premiums be withdrawn at the 54th meeting of the GST Council. "The 18% …

Health Finance Insurance Life Council Sitharaman Parliament

4 months, 2 weeks ago

INDIA bloc holds protest against GST on health, life insurance premiums, calls it 'tax terrorism'

India TV News

I.N.D.I.A bloc parties on Tuesday held a protest in the Parliament premises demanding the rollback of Goods and Services Tax on life and health insurance premiums. Gadkari also supports demand Interestingly, Union Minister of Road Transport and Highways Nitin Gadkari also requested Finance Minister Nirmala Sitharaman to withdraw the 18 per cent GST on life and medical insurance premiums. In …

Finance Insurance Life Minister Parliament Gst Premiums

4 months, 3 weeks ago

Trinamool Congress supports Gadkari’s demand to remove 18% GST from life, health insurance premiums

The Hindu

The Trinamool Congress threw its weight behind Union Transport Minister Nitin Gadkari’s demand for withdrawal of 18% Goods and Services Tax on life and medical insurance premiums. In a recent letter to Finance Minister Nirmala Sitharaman, Mr. Gadkari wrote that the GST amounts to taxing the uncertainties of life and restricts sector’s growth. West Bengal Chief Minister Mamata Banerjee, also …

Congress Trinamool Gst Trinamool Congress Gadkari

4 months, 3 weeks ago

Mamata urges Sitharaman to rollback GST on life, health insurance premiums: 'Highly anti-people...'

India TV News

West Bengal Chief Minister Mamata Banerjee wrote to Union Finance Minister Nirmala Sitharaman over the Centre’s decision to impose 18 per cent GST on life insurance and health insurance policies terming it as anti-people, and urged her to roll it back. Mamata writes to Sitharaman "With deep anguish, I am writing to you regarding the imposition of 18 per cent …

Health Life Mamata Minister Sitharaman Gst Insurance Premiums

5 months, 1 week ago

Budget 2024: Insurers expect more tax benefits for health insurance in Union budget

The Hindu

More tax benefits for health insurance under the new tax regime, relaxation in payment norms for MSMEs and incentives for the agri-tech sector are among the expectations of stakeholders from the first budget of the Modi 3.0 government. Anup Rau, Managing Director and Chief Executive Officer of Future Generali India Insurance Company, said the deduction limit on health insurance premiums …

Health Finance India Insurance Budget Health Insurance Sme

5 months, 2 weeks ago

Budget 2024: Health insurers seek more attractive tax incentives—and a regulator

Live Mint

In the interim budget for 2024-25 presented in February, finance minister Nirmala Sitharaman increased the government’s allocation towards the health sector by nearly 14%. “To enable better retail health insurance penetration, the government can consider categorising them under a separate HSN code and lowering the tax to 5%," says Parimal Heda, chief investment officer, GoDigit General Insurance. The tax on …

Health India Healthcare Industry Tax Budget Health Insurance

2 years, 5 months ago

No tax reduction on life, health insurance premiums likely from GST council meet

India Today

Despite the low penetration of life and health insurance in the country and the heightened medical concerns driven by the pandemic, the GST council is not likely to provide tax relief to those seeking life or medical insurance cover. India Today found out that the fitment committee, a panel of central and state government officials working for the GST Council, …

Health India Insurance Life Tax Health Insurance Council

4 years, 1 month ago

Gold price premium in India dip ahead of Diwali

Live Mint

Gold dealers in India charged premiums of $1 an ounce this week over official domestic prices, as compared to $5 premiums last week, Reuters reported. Gold advanced on Friday as the dollar stabilized in the final days before next week’s pivotal U.S. presidential election. However, gold prices had been under pressure last month as rising coronavirus cases in Europe and …

India Gold Prices Price Gold Prices

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What gets cheaper, what is costlier after GST Council meet? Details here

GST council explains difference in tax rates between salted and caramel popcorn

CREDAI expresses concern over proposed 18% GST on Floor Space Index premiums

GST council meeting: What gets cheaper & dearer - from popcorn to EV sale

GST Council Delays Decision On Tax Reduction For Life, Health Insurance Premiums

55th GST Council Meeting: Raises tax on used car sales; postpones debates on insurance, 'sin' products

GST Council Meeting: Industry eyes tax relief on health insurance premiums, higher levies on luxury items

GST Council’s December Meet: Waiver of levy on health, life insurance premiums on agenda

West Bengal's relentless efforts pay off as Centre considers GST exemption for health insurance premiums

Group of Ministers to review tax rates on health, life insurance

Priorities askew with high insurance tax, cheaper fried snacks

GST Council delays decision on insurance premiums to next meeting: Report

GST Council lowers tax on cancer drugs to 5%, to finalise cuts on health and life insurance premiums

What GST Council has decided on demands of tax cuts in health insurance premiums | Details

GST Council meet: TMC's O'Brien urges Sitharaman to withdraw 18% GST on insurance premiums

INDIA bloc holds protest against GST on health, life insurance premiums, calls it 'tax terrorism'

Trinamool Congress supports Gadkari’s demand to remove 18% GST from life, health insurance premiums

Mamata urges Sitharaman to rollback GST on life, health insurance premiums: 'Highly anti-people...'

Budget 2024: Insurers expect more tax benefits for health insurance in Union budget

Budget 2024: Health insurers seek more attractive tax incentives—and a regulator

No tax reduction on life, health insurance premiums likely from GST council meet

Gold price premium in India dip ahead of Diwali