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GST INSURANCE WITHDRAWAL
Life insurers, distributors in talks to recast termsInsurers are renegotiating terms with distributors. This follows the government's GST exemption for individual life insurance policies. The...- GST 2.0: Insurers cut payouts to distributorsLife insurers face a similar squeeze. The industry paid about ?24,000 crore in GST in FY24, offset by ? 14,000 crore of ITC. With credits n...
- GST exemption could take a toll on insurers' healthIn protection products, commissions initially range between 35% and 40% before tapering off, averaging about 5-6% over time. On top of this...
- Life insurance companies challenge GST exemption for term policiesLife insurance companies are petitioning to avoid the exemption of term insurance policies from the GST levy. They argue that doing so will...
- Life insurance employees' body demands withdrawal of GST on premiumsThe All India Life Insurance Employees' Federation will launch a nationwide campaign seeking withdrawal of GST on insurance premiums and op...
- Sustained efforts by Bengal forced Centre's likely decision to exempt GST on health premium: Mamata BanerjeeThe Centre is expected to exempt GST on term life insurance and senior citizens' health insurance premiums. This follows prolonged advocacy...
- GST on insurance premiums: Karnataka in favour of exemption on products used by working classKarnataka will propose a GST exemption on health and life insurance for the working and lower middle classes at the upcoming GST Council me...
- Relief for policyholders: Will 18% GST on term life insurance premium be removed in the GST meeting on September 9, 2024?The upcoming GST Council meeting is expected to take a decision on removing the 18% GST levied on term life insurance premiums. This decisi...
- Revoke 18% GST on health and life insurance premium: TMC to Nirmala SitharamanTMC leader Derek O'Brien has urged Finance Minister Nirmala Sitharaman to remove the 18% GST on health and life insurance premiums at the u...
- Indians may need to get over a tax headache to secure their healthGST on health insurance: Finance Minister Nirmala Sitharaman faced calls to remove GST on health and life insurance, stressing these taxes ...
- 18% GST on insurance a barrier, negatively impacts Indians’ affordability: HDFC ERGO’s Parthanil GhoshHealth insurance GST: Parthanil Ghosh of HDFC ERGO noted that the 18% GST on health insurance premiums has increased costs, affecting affor...
- Gadkari's letter seeking removal of 18% GST on health insurance premium was released without permission, Sitharaman tells RSUnion Finance Minister Nirmala Sitharaman revealed in the Rajya Sabha that a letter from Transport Minister Nitin Gadkari, which requested ...
- 18% GST on health insurance: FM Sitharaman addresses issue in the Lok SabhaUnion Finance Minister Nirmala Sitharaman addressed concerns about the 18% GST on health insurance during a Lok Sabha debate. She noted tha...
- Removal of 18% GST on life, health insurance: 'Shall take up with the GST Council,' says FM SitharamanGST on Life, Health Insurance: Both policyholders and insurers want the Centre to remove 18% GST on insurance premiums. The 18% GST on insu...
- "Can't impose GST on something as essential as life insurance," says Congress MP Shashi TharoorCongress MP Shashi Tharoor criticised the government's decision to impose an 18% GST on life insurance and medical insurance premiums, stat...
- Govt collects Rs 8,263 cr towards GST on health insurance premium in FY'24The government accumulated Rs 8,263 crore in GST from health insurance premiums for the fiscal year 2023-24. There have been appeals to exe...
- Mamata Banerjee writes to Nirmala Sitharaman, urges her to rollback GST on life, health insurance premiumsWest Bengal CM Mamata Banerjee supported the removal of GST on life and medical insurance premiums, stressing its negative impact on essent...
- TMC urges govt to withdraw GST on health, medical insurance premiumsMPs from INDIA bloc parties TMC and DMK walked out of the House, alleging that there was no clarification from the government over the issu...
- Gadkari urges FM to withdraw 18% GST on life, medical insurance premiumsNitin Gadkari, the Road Transport Minister, urged Finance Minister Nirmala Sitharaman to eliminate the 18% GST on life and medical insuranc...
- Withdraw 18% GST on life and medical insurance premium: Gadkari writes to FM SitharamanThe Transport Minister noted that the Nagpur Divisional Life Insurance Corporation Employees Union urged the removal of GST on life and med...
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