The GST Council will meet on December 21 in Jaisalmer, in which the much-awaited decision on exemption or lower GST rate on health and life insurance is likely to be taken. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising her state counterparts, may also take up some rate rationalisation exercise and reduce tax rates on a host of common man items from 12 per cent to 5 per cent slab as per the recommendations of a panel of state ministers. "The 55th meeting of the GST Council will be held on 21 December 2024 at Jaisalmer, Rajasthan," the GST Council said in a post on X. The council, in its previous meeting on September 9, had tasked the GoM to finalise the report on GST levy on insurance by October-end. Following that, the group of ministers (GoM) on health and life insurance GST last month met and broadly agreed on exempting insurance premiums paid for term life insurance policies, and senior citizens' health insurance from GST. Also, GST on premium Read The Rest at :