GST Council to meet in Jaisalmer on December 21

The 55th meeting of the GST Council will be held on December 21, 2024, in Jaisalmer, Rajasthan. One of the key highlights of the meeting will be the long-awaited decision on whether to exempt or lower the GST rates on health and life insurance, a matter that has garnered significant attention.

Chaired by Union Finance Minister Nirmala Sitharaman, the council will also address other pressing issues, including a possible rationalisation of GST rates. This could lead to a reduction in tax rates on a range of common items from 12% to 5%, following recommendations from a panel of state ministers.

"The 55th meeting of the GST Council will be held on December 21, 2024, at Jaisalmer, Rajasthan," the GST Council said in a post on X.

The meeting is expected to bring clarity on several issues discussed in previous meetings. In its September 9 session, the GST Council tasked a group of ministers (GoM) to finalise recommendations on GST levies on health and life insurance by the end of October. Following that, the GoM on health and life insurance GST met and broadly agreed on exempting insurance premiums for term life policies and senior citizens’ health insurance.

Source : https://www.cnbctv18.com/economy/gst-council-to-meet-in-jaisalmer-on-december-21-19511096.htm