The Goods and Services Tax (GST) Council is likely to discuss the issue of exempting health and life insurance from the 18 percent levy at its meeting on September 9. The proposal is under examination by the Council’s Fitment Committee, which will evaluate the potential revenue loss and other economic impacts before making a recommendation to the Council. The decision will have to consider the potential revenue loss to the exchequer, and the Fitment Committee’s analysis will play a crucial role in shaping the Council’s final decision.
Source A2ztaxcorp
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