TAG: Health Insurance
Govt asks public insurers to move out of motor, health insurance to reduce losses: DFS Secy
The Union government has asked the public sector insurance companies, who are struggling to improve their solvency ratio and profits, to come out of motor and health insurance segments, which have been identified as significant loss-making areas. This dir...
2 months ago
Next GST Council meeting to be held on September 9
The GST Council will be meeting on 9th September at New Delhi, the official social media handle confirmed on August 13.The upcoming meeting of the GST Council may take up issued relating to rate rationalisation, and also cases where Indian offices have se...
2 months ago
GST Council likely to deliberate on exemption of health, life insurance on Sept 9
The Goods and Services Tax (GST) Council is likely to discuss the issue of exemption of health and life insurance from the 18 percent levy when it will meet on September 9, two people familiar with the development said.The proposal is under examination by...
1 month ago
GST relief on health insurance may lead to Rs 3,500 crore revenue loss, says govt official
In the upcoming Goods and Services Tax (GST) Council meeting on September 9, a significant proposal is under consideration that could have wide-reaching implications for the insurance sector and the government exchequer. The potential exemption of health...
1 month ago
No consensus among states on GST relief for health insurance premium
The states continue to remain divided over a proposal to exempt health insurance premium from Goods and Services Tax (GST), with the Fitment Committee, comprising revenue officials from both the state and Union governments, struggling to reach a consensus...
1 month ago
In Charts: Removing GST on health insurance may hurt Govt, but benefit India
The Government of India is expected to lose a significant sum if GST on health and life insurance is relaxed from 18 percent. It earned Rs 8,262.9 crore from GST on health insurance (excluding reinsurance). The revenue loss, if GST is reduced to 5 percent...
1 month ago
GoM decision on GST rate cut on life and health insurance deferred, next meet on Oct 19
No final decision was made on the proposal to cut goods and services tax (GST) rates on life and health insurance during the Group of Ministers (GoM) meeting held on September 25, sources said."Issues were discussed but nothing was finalised in today’s me...
3 weeks ago