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September 8, 2025

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GST Waiver on Life, Health Insurance Aimed at Wider Coverage

by New Desk13
India’s GST collections rise 6.5 pc in Aug to Rs 1.86 lakh crore

New Delhi Sep 07 Experts anticipate that the rationalisation of GST on life and health insurance premiums to a nil tax category from 18% will enhance affordability, increase penetration, and stimulate consumption.

While insurers may experience short-term margin compression due to the loss of input tax credit (ITC), the reduction in premiums is expected to drive higher sales and improve long-term market penetration. The move is also seen as a step towards making healthcare more inclusive and affordable, encouraging wider adoption of insurance products.

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