55th Meeting of the GST Council
On 21st December 2024, the 55th GST Council meeting was held under the Chairpersonship of Union Minister for Finance & Corporate Affairs in Jaisalmer, Rajasthan.
Key Outcomes
- Premiums on Health Insurance: GST exemption is proposed for health insurance premiums up to Rs. 5 lakh, except for senior citizens. Policies with coverage exceeding Rs. 5 lakh will continue to attract an 18% GST rate.
- Rate Rationalisation Decisions: Decisions regarding GST rate adjustments for approximately 150 items were postponed which include items like garments, packaged drinking water, bicycles priced below Rs. 10,000.
- Delaying of GST Review on Insurance Premiums: The review of GST ....
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