WE WELCOME THE EFFORTS OF GOVERNMENT OF INDIA IN THE DIRECTION OF REDUCING THE GST ON INSURANCE POLICIES FROM 18% TO 12% FOR THE BENEFIT OF COMMON PEOPLE OF INDIA

WE WELCOME THE EFFORTS OF GOVERNMENT OF INDIA IN THE DIRECTION OF REDUCING THE GST ON INSURANCE POLICIES FROM 18% TO 12% FOR THE BENEFIT OF COMMON PEOPLE OF INDIA

Dear Readers,

I am giving below the links to two news articles I have read in recent times, that says that GOVERNMENT OF INDIA IS MAKING SINCERE EFFORT TO REDUCE THE GST APPLICABLE ON INSURANCE POLICIES WHICH IS PRESENTLY 18% TO 12%.

This 6% Reduction of GST being planned for and effort is being made, if goes through will give great benefits to the Common People of India in addition to the Bima Sugam System, No-Agent's Commission on directly purchased policies and no-insurance company's apportioned charges to be billed to the concerned insurance product which have already been cleared through Gazette Notifications of Govt. of India.

Here are the Two News Reports I am citing and I am giving reference if you what to read:

1.      The Financial Express News Article:

Centre may push for 12% GST for health insurance; lower rate seen to widen cover


2.      The Hindustan Times News Report  ( February,2024 report that was published on 07-February-2024 in the recent past on Parliamentary Panel Report ):

Parliamentary panel recommends cut in GST on insurance products



With Best regards,
Dr. Nimain Charan Biswal




About the Author : Dr. Nimain Charan Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications; and he has 38 years of work experience in both industrial and development sectors in diversified fields of social importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). He is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in industrial sectors, management in agriculture and dairy, development management to management of public systems. He is a prominent professional of India and known Internationally as well. He lives at Mumbai in India.



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