Has 18% GST exemption on insurance reduced premiums? Govt answers in Parliament - A2Z Taxcorp LLP

The Indian government confirmed on Wednesday that a recent GST exemption for insurance had lowered costs for policyholders. The GST Council had recommended an exemption for all individual life insurance policies, health policies (including family floaters) in September last year. “The GST exemption ,by eliminating the 18% tax overlay, directly reduces premium costs and encourages broader adoption.…