How can the GST Council address the issue of tax on health insurance premiums as suggested by the Finance Minister
Understanding the need for the GST Council to consider taxation on health insurance premiums.
- One way the GST Council can address the issue is by considering a lower tax rate for health insurance premiums to make it more affordable for the common populace.
- They could also explore the possibility of exempting health insurance premiums from GST to encourage more people to invest in insurance for their well-being.
- Another option could be to introduce a separate category for health insurance within the GST structure, allowing for a tailored tax rate that aligns with the healthcare sector's unique needs.
- Additionally, the Council could collaborate with healthcare experts and insurance industry stakeholders to understand the implications of various tax scenarios on health insurance and make an informed decision accordingly.
Answered
9 months ago