GST on insurance premiums: Karnataka in favour of exemption on products used by working class
Karnataka will propose a GST exemption on health and life insurance for the working and lower middle classes at the upcoming GST Council meeting. The state opposes a blanket exemption for higher income groups. The council will consider opinions from member states on this issue, aiming to support the struggling working class.
Karnataka is expected to pitch for GST exemption on health and life insurance only on such products used by the working and lower middle classes at the upcoming GST Council meeting.
The Congress-ruled state is not in favour of a blanket exemption on premium insurance products bought by the higher income groups, according to Krishna Byre Gowda, the state’s revenue minister who represents the southern state on the GST Council.
