GST Council Meeting: Major relief likely for insurance buyers?
Imagine paying for a safety net to secure your family’s future, only to see a large tax make it less affordable. This is the reality for millions of Indians who rely on term life insurance to protect their loved ones.
The 18% GST on insurance premiums has made this essential protection harder to afford. However, the upcoming 54th GST Council meeting might offer some relief. A potential reduction or removal of the tax on these premiums could make insurance more accessible to a wider audience.
