- Insurance sector expects GST rate on health insurance to be lowered in the upcoming interim budget
- Industry experts believe that the current 18% GST rate makes health insurance products less affordable
- Lowering the GST rate on health insurance is seen as a way to incentivize more people to buy health insurance
- There is a recommendation to lower the GST rate to zero percent for senior citizens
- Insurance awareness is still building in India, and tax incentives can encourage people to buy health insurance
- The Budget session of Parliament will begin on January 31 and the interim budget will be presented on February 1.
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "India"
- Eight States Demand GST Rate Cuts Be Tied to Revenue Guarantee and Consumer Benefits
- CII Urges Corporates to Transfer GST Rate Cut Benefits to Consumers Before Festive Season
- DGFT Extends Export Obligation Period, Boosting Indian Textile Exporters’ Competitiveness
- GST 2.0: New Two-Slab Tax Regime Announced, Healthcare and Essentials to Get Cheaper
- L’Oreal India Distributor Found Guilty of Not Passing GST Rate-Cut Benefits to Consumers
