- Life insurance companies want term policies to be subject to GST
- They believe this will lead to increased costs without input tax credit
- Companies propose keeping 12% GST or lowering insurance commission rates
- Ministerial panel is examining the situation
Source: economictimes.indiatimes.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"
- High Court Clarifies GST Treatment of Corporate Guarantees Without Consideration
- West Bengal AAR Rejects Hotel ITC Advance Ruling Over Pending GST Proceedings
- IMS vs Purchase Register: GST Reconciliation Guide
- Rajasthan AAAR: Compostable Bags Taxable at 5% Only if Biodegradable
- Tamil Nadu AAR: GST on Foreign Director’s Commission, Export Agents Exempt, C&F Taxable
