- Finance Minister Nirmala Sitharaman will chair the next meeting of the GST Council on December 21 in Jaisalmer
- The meeting was delayed due to Assembly elections and the Winter Session of Parliament
- The meeting will likely discuss lowering GST on health and life insurance premiums to nil and rate rationalisation on mass-consumed items
- The Group of Ministers on life and health insurance proposed complete exemption of GST on premiums
- The Group of Ministers on rate rationalisation proposed lowering GST on packaged water, bicycles, and exercise notebooks
- The aim is to make essential products more affordable for middle-class and lower-income groups
- The rate rationalisation aims to raise taxes on luxury and sin goods and provide relief on essential items.
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.
