News Muncher - searching for tax

2 days, 9 hours ago

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

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, 11 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 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

1 month, 2 weeks ago

Little-known insurance stealth tax to raise £46BILLION in the next five years - more than road tax

Daily Mail

A little-known insurance stealth tax is set to raise £46billion for the Government over the next five years - more than road tax. Insurance premium tax adds 12 per cent to the price of car, home and pet insurance, and 20 per cent on travel insurance and many forms of add-on cover. The OBR predicted IPT will rake in £42.4billion …

Insurance Budget Cent Ipt Road Tax Premiums

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, 3 weeks ago

Weighing up private health insurance in a cost-of-living crunch

ABC

In a cost-of-living crunch, how do you decide what is essential for you — and what isn't — when it comes to private health insurance? "If you decide against health insurance, that's a very reasonable choice, but you should never decide against accident ambulance cover," Ms Mihm said. It's also important to know that extras cover — the insurance that …

Health Insurance Medicare Health Insurance Pay Hospital Private

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

10 months, 2 weeks ago

Aboriginal pensioner charged close to $10k in one year for home insurance on 'asbestos cottage'

ABC

In short: A major insurer charged an Indigenous pensioner almost $10,000 in one year to insure an asbestos-clad home in rural Western Australia. He questions whether QBE charged Mr O'Meara excessive premiums, known as a "loyalty tax", because he didn't possess the skills to easily shop around. "I didn't have much of an idea what was going on because they …

Insurance Financial Indigenous Building Charged Michael Premiums

10 months, 3 weeks ago

How to make the most of tax benefits by investing in insurance products?

Live Mint

January marks an ideal period to assume control of your financial affairs. Furthermore, all premiums paid for term life insurance qualify for tax deductions under Section 80C of the Income Tax Act, with a yearly limit of ₹1.5 lakh. Similar to life insurance, health insurance provides substantial tax advantages, albeit under a distinct section of the Income Tax Act—Section 80D. …

Health Benefits Financial Life Tax Health Insurance Income

10 months, 4 weeks ago

Interim Budget 2024 Wishlist: Insurance Industry Expects Higher Deductions for Medical Insurance Premiums

News 18

Written By Ramkumar S & Bijal Khara: The Union Budget 2023 was a bitter pill to swallow in many ways for the insurance sector, stemming from the fact that increased limit under Sections 80C and 80D, separate deduction for home insurance, relook at GST rates, and tax-free status for pension/annuity were not considered in the Budget. This impacted life insurance …

Finance India Insurance Budget Tax Regime Industry Expects

1 year, 3 months ago

How do I earn any bonus from a participating insurance policy?

Live Mint

I am a homemaker with two children—aged six and nine. When it comes to participating plans, I wanted to know how the cash value of a participating insurance policy grows over time? The benefit of a participating policy is that it not only provides guaranteed protection but also gives returns in the form of bonuses, which can contribute towards achieving …

Financial Bonus Participating Policy Participating Plans

1 year, 3 months ago

Low income Australians are paying a 'poverty premium' for basic services, Anglicare says

ABC

Low income households face higher living costs than other families because they are financially penalised for being unable to buy groceries in bulk, pay costs annually instead of monthly, or upgrade to a more fuel-efficient car. Key points: Anglicare says low income households often pay a "poverty premium" for basic goods and services. Poverty premiums can be found everywhere in …

Food Poverty Services Pay Income Premium Report

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Articles for Premiums, search results for tax

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

Little-known insurance stealth tax to raise £46BILLION in the next five years - more than road tax

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

Weighing up private health insurance in a cost-of-living crunch

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

Aboriginal pensioner charged close to $10k in one year for home insurance on 'asbestos cottage'

How to make the most of tax benefits by investing in insurance products?

Interim Budget 2024 Wishlist: Insurance Industry Expects Higher Deductions for Medical Insurance Premiums

How do I earn any bonus from a participating insurance policy?

Low income Australians are paying a 'poverty premium' for basic services, Anglicare says