News From Press GST Council likely to exempt term life insurance from tax, no change in investment-linked plans

GST Council likely to exempt term life insurance from tax, no change in investment-linked plans

Source: Moneycontrol Sep 2, 2024

The GST Council is expected to exempt term life insurance policies from the goods and services tax (GST) while continuing to tax insurance policies with an investment component, a decision that could boost demand for pure protection policies.

The decision is likely to be formalised in the GST Council meeting on September 9, a senior government official said, requesting anonymity.

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