A group of ministers (GoM) tasked by the Goods and Services Tax (GST) Council to oversee rate rationalisation, is considering lowering the tax on life and health insurance premiums. This potential reduction could offer financial relief to individuals and families purchasing insurances. The GoM is expected to submit its report to the GST Council by October 31, and the final decision will be made by the GST council. Could GST on insurance premiums be reduced to zero?
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