Full GST exemption on health and life insurance premiums proposed: Don’t be happy – Here’s why your premiums may go up
The GST Group of Ministers has proposed exempting health and life insurance premiums from GST, a move intended to make insurance more affordable. However, experts warn that entirely eliminating GST could remove input tax credit benefits for insurers. This could increase insurers’ overall expenses, potentially leading to higher premiums for policyholders, effectively negating the intended affordability.
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