Indian finance ministers meet to discuss lowering GST on health and insurance, adjusting taxes on goods.

Union Finance Minister Nirmala Sitharaman will meet state finance ministers on December 21-22 for pre-Budget consultations and a GST Council meeting. The GST Council will discuss lowering GST rates on health and life insurance, potentially exempting term insurance plans and senior citizens' health insurance. The meeting may also address tax rate rationalization for items like packaged drinking water, bicycles, and luxury goods, aiming to adjust revenue by about Rs 22,000 crore.

November 11, 2024
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