October 18, 2024 8:59 PM

GoM to propose lower GST on insurance premiums and adjust tax slabs

The Group of Ministers (GoM) set up to suggest changes in GST rates will meet on Saturday, October 19, to discuss the rationalization of taxes, particularly on health and life insurance premiums. The meeting will also explore proposals to modify existing tax slabs to improve the GST framework. This will be the first meeting of the GoM formed to examine ways to lower the 18% GST rate currently applied to insurance premiums. Bihar’s Deputy Chief Minister, Samrat Choudhary, who heads the 13-memb...