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GoM proposes exemption of health insurance premiums, term life cover from GST

GoM proposes exemption of health insurance premiums, term life cover from GST

Oct 20, 2024, at 05:27 am

New Delhi:  The Group of Ministers (GoM) on GST rate rationalisation said on Saturday that health insurance premiums paid by senior citizens, and premiums paid on term life insurance will be exempted from GST, media reports said.

Group of Ministers on GST rationalisation proposes lowering tax rates on bicycles, packaged drinking water bottles, notebooks to 5%

Group of Ministers on GST rationalisation proposes lowering tax rates on bicycles, packaged drinking water bottles, notebooks to 5%

Oct 20, 2024, at 04:59 am

New Delhi: The Group of Ministers (GoM) on GST rate rationalisation has decided to reduce tax rates on 20-litre packaged drinking water bottles, bicycles, and exercise notebooks to 5 percent, while proposing an increase in taxes on high-end wristwatches and shoes, media reports said.