JAISALMAR: The 55th GST Council meeting held on Saturday concluded without any major decisions being taken. The much-anticipated decision on reducing GST rates for health and life insurance premiums has been deferred, as the Council believes further discussions are required before moving forward. The Group of Ministers (GoM) on insurance has recommended a complete waiver of GST on premiums paid towards health insurance policies with cover up to Rs 5 lakh. It has also suggested no GST on premiums for term insurance policies. Briefing the media after the meeting, Bihar Deputy Chief Minister Samrat Choudhary said, “Some members of the Council feel there is a need for more discussion on the issue.” Choudhary further informed that the report on rate rationalisation was not presented during the meeting. “There are 148 items whose rates have to be decided. The discussion is on,” he said, addressing the delay in tabling the rate rationalisation report. Choudhary also heads the GoM on rate rationalisation. Meanwhile, the Council has decided to increase GST on used smaller cars from 12% to 18%.
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