The Group of Ministers (GoM) is likely to recommend exempting Goods and Services Tax (GST) on term life insurance premiums and health insurance premiums paid by senior citizens. During a recent meeting, the GoM decided to exempt GST for health insurance coverage up to Rs 5 lakh for individuals (excluding seniors), while premiums above this threshold will still attract 18% GST. Currently, 18% GST applies to life insurance premiums as well. Read The Rest at :
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