Premiums to fall as Govt finalises GST cut from 18% to 12 % on Term Life and Health cover with input tax credit(ITC)

On Tuesday, senior officials Ministry of Finance, Insurance Regulatory Development and Authority(IRDA) and insurers had met in Delhi to finalise the GST cut proposals before they are sent to GST Council, headed by Finance Minister Nirmala Sithraman that will take a final call on the move

Government and IRDAI officials have asked insurers to strictly pass on the GST cut benefits to policyholders

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