Insurers presently avail input tax credit on significant backend costs such as insurance commission, re-insurance, technology ...

Experts said the move to exempt GST on health and life insurance premiums would provide significant relief to households.

GoM approves two-slab GST structure at 5% and 18%, simplifying tax regime under Nirmala Sitharaman's leadership for household savings and business ease.

Tax experts believe the exemption could improve affordability but caution that expectations of a full 18% premium cut are ...

Prime Minister Narendra Modi has proposed India's biggest tax reform in eight years to lower consumption levies on everyday ...

After the PM's speech, the government later came out with details about the upcoming next-generation GST reform which is aimed at lowering tax rates for most daily use essential items, home appliances ...

GoM approves streamlining GST rates to a simplified 5% and 18% two-slab structure, eliminating 12% & 28% slabs.

With GST rate rationalisation, the tax on cars, two-wheelers, three-wheelers, trucks and buses will reduce to 18% from 28%.

The additional cost from input credit reversal will likely be factored into the pricing of insurance policies, offsetting a large part of the intended relief for customers, they say ...

The proposal has received similar recommendations from the GoM. However, a few state ministers have proposed an additional cess on top of the 40 per cent GST slab ...

The Group of Ministers (GoM) on Rate Rationalisation, formed by the Goods and Services Tax (GST) Council, has decided to accept the Centre’s two-rate structure proposal for GST and will be ...

Prime Minister Narendra Modi has proposed India's biggest tax reform in eight years to lower consumption levies on everyday ...