Policyholders will pay no GST on health and life premiums from September 22, but insurers lose the ability to claim tax ...

Meanwhile, insurance companies have found a way to offset their ITC losses. They are now reducing brokerage and commission ...

How to check the GST rates for various items using the revised GST table published by the Central Board of Indirect Taxes.

The Invoice Management System (IMS) ends automatic ITC population in GSTR-3B from Oct 2025. Taxpayers must Accept, Reject, or Pend B2B invoices via the GST ...

Starting September 22, 2025, individual health and life insurance premiums are GST-exempt, but insurers have lost their ITC ...

Industry estimates suggest health insurance premiums may rise by 3–5% and life insurance by 0.5–1.5% due to the ITC loss.

Following the GST Council's decision to exempt individual health and life insurance policies, insurers are adjusting to the ...

While strict cost caps has forced private insurers to pass GST burden to agents, PSUs like LIC, New India Assurance, Oriental ...

Health and life insurance premiums are exempt from the 18% Goods and Services Tax (GST), bringing relief of up to Rs 3,050 per policy. However, with insurers losing input tax credit benefits, the ...

As they pass on the Goods and Services Tax (GST) benefit to policyholders, private life insurers appear to have shifted the ...