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Informative

GST Council May Remove Tax on Life and Health Insurance Premiums: Here’s How It Could Impact You

Update / Judgement Date

23 Oct 2024

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

GSTInsurance

The GST Council is considering removing the tax on life and health insurance premiums, which could provide significant relief to policyholders. The move is aimed at making insurance more affordable and accessible, particularly for individuals seeking coverage for life and health-related expenses. If implemented, the removal of GST could lower the overall cost of premiums and encourage more people to invest in insurance policies.