A full GST exemption on life insurance premiums could mean more expensive premiums for policyholders

GST exemption on life insurance premiums: At present, a high GST rate of around 18% on life and health insurance premiums makes plans too costly, which leads to many people potentially forgoing proper insurance coverage. But if both life and health insurance premiums are made completely exempt from GST, it might potentially end up making both life and health insurance premiums more expensive, largely due to loss of input tax credit benefits. Know more about it in this article.

More...