{
Samrat Choudhary

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gst revenue from healthcare and life insurance exceeds 16000 crore in fy24
GST on healthcare and life insurance services generated over Rs 16,000 crore in FY24, with Rs 8,135 crore from life insurance and Rs 8,263 crore from health insurance. The standard GST rate on health insurance is 18%, while specific schemes for economically weaker sections are exempt. A Group of Ministers is reviewing GST issues related to these sectors, with recommendations expected to be presented to the GST Council in December.
Business Today
Universal Health Insurance Scheme Niramaya Health Insurance Scheme Rashtriya Swasthya Bima Yojana IND Pankaj Chaudhary Samrat Choudhary Show more
Finance & Economy, News Article
13:33 25.11.2024
Group of Ministers to Present GST Recommendations on Life and Health Insurance
Parliament was informed that the Group of Ministers (GoM) examining GST on life and health insurance will present its recommendations to the GST Council once received. The issue of exempting or reducing GST was discussed at the Council's 54th meeting on September 9, 2024, leading to the GoM's formation under Bihar's Deputy Chief Minister Samrat Chaudhary. The first GoM meeting took place on October 19, 2024, focusing on GST rates, which currently stand at 18% for health and pure term life insurance services.
website
United States Dollar Indian Rupee IMF Reserve Bank of India CHE IND CHN JPN Pankaj Chaudhary Samrat Choudhary Show more
Finance & Economy, News Article
10:55 25.11.2024
gst council reviews health insurance tax rates amid ongoing discussions
The GST Council discussed the exemption and reduction of GST on life and health insurance during its 54th meeting on September 9, 2024, leading to the formation of a Group of Ministers (GoM) chaired by Bihar's Deputy Chief Minister Samrat Chaudhary. The GoM's first meeting on October 19, 2024, focused on GST rates, which currently stand at 18% for health and pure term life insurance. Revenue from GST on these services reached Rs 8,263 crore and Rs 8,135 crore in fiscal 2023-24, showing a mixed trend compared to the previous year.
Moneycontrol
United States Dollar Reserve Bank of India IND Pankaj Chaudhary Samrat Choudhary
Finance & Economy, Press Release
10:53 25.11.2024
finance ministry clarifies gst exemption status for health and life insurance
The Finance Ministry has clarified that while certain government-backed health and life insurance schemes are exempt from GST, there are no plans to extend this exemption to all policies. Exemptions currently apply to programs like the Rashtriya Swasthya Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, which target economically disadvantaged groups. A Group of Ministers has been formed to evaluate the implications of GST on these sectors, with their recommendations pending review by the GST Council.
NDTV Profit
Pradhan Mantri Jeevan Jyoti Bima Yojana Ayushman Bharat PM-JAY IND Pankaj Chaudhary Samrat Choudhary
Regulatory & Legal, News Article
06:21 25.11.2024
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