GST Council postpones decision on slashing tax on life, health insurance

JAISALMER: The GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums, officials said.

The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided that some more technicalities needed to be ironed out and tasked the GoM for further deliberations.

Bihar Deputy Chief Minister Samrat Chaudhary said one more meeting of the GoM on insurance is required to take a call on taxation of group, individual, senior citizens’ policies.