Informative

GST on healthcare and life insurance services raised over Rs 16,000 crore in FY24

Update / Judgement Date

25 Nov 2024

Source

Business Today

Author

Team — WCP Legal Desk

Reading Time

1 min read

Financial ManagementGSTInsurance

The Goods and Services Tax (GST) collected from healthcare and life insurance services in FY24 exceeded Rs 16,000 crore. This significant revenue generation reflects the expanding healthcare and insurance sectors in India. The GST revenue from these services indicates increased demand for healthcare and insurance products, contributing to the overall tax revenue of the government. This trend highlights the growth of these sectors and their contribution to the national exchequer.

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GST on healthcare and life insurance services raised over Rs 16,000 crore in FY24

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