- 55th GST Council meeting to be held on December 21 and 22 in Rajasthan
- Key agendas include health and life insurance GST exemptions, rate rationalization, and revenue implications
- Proposals include exempting GST on health insurance premiums up to Rs 5 lakh and lowering GST rates on certain commodities
- Expected additional revenue of approximately Rs 22,000 crore from proposed rate changes
- GoM on health and life insurance GST and rate rationalization to present final reports
- GST currently has a four-tier tax structure with slabs at 5, 12, 18, and 28 per cent
- Discussions on GST rate rationalization needed as average GST rate has fallen below revenue neutral rate
Source: a2ztaxcorp.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
