Currently, these goods are subject to a 28% GST rate, along with an additional compensation ... Essential items are either exempt from tax or subjected to the lower slab, whereas luxury and ...

The Goods and Services Tax ( GST) Council may settle for a reduction in the tax rates on health & life insurance, instead of a full waiver. The GST, which now applies at 18% on gross premiums, is ...

In general, essential items are exempted or taxed at low rates, while luxury goods attract the highest rates. Now, the average rate of GST has fallen below the revenue-neutral rate of 15.3 per cent.

While lower GST could help increase penetration of insurance, some experts call for controlling medical inflation as well ...

(a): The GST Council in its 45 th meeting held on 17th September, 2021, has constituted a Group of Ministers to look into issues relating to rate rationalisation. The terms of reference for the GoM ...

The GST Council may finalise relief on life and health insurance at its next meeting, with states showing consensus on the ...

Government has received requests from trade associations in Tamil Nadu, including the Tamil Nadu Foodgrains Merchants Association and the Camphor Tableters Association, for reductions in GST rates on ...

With its introduction, prices of various products and services used ... the standing committee's recommendation to exempt GST on fertiliser and cut rates on raw materials to the GoM on rate ...