GST Council Defers Review of Tax on Life and Health Insurance






 The GST Council, chaired by Finance Minister Nirmala Sitharaman, deferred decisions on revising GST rates for life and health insurance policies and around 150 items during its 55th meeting in Jaisalmer.

 

A Group of Ministers (GoM), led by Bihar Deputy CM Samrat Chaudhary, will re-evaluate these matters. Key changes approved include exempting gene therapy and long-range surface-to-air missiles from GST.

 raising the tax on used cars, including EVs, to 18%, and revising popcorn taxes: 18% for sweetened, 5% for unpackaged salty varieties, and 12% for pre-packaged ones. Fortified rice kernels for PDS saw a GST reduction from 18% to 5%.

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