GST @ 8: How to make it the best model for insurance premiums

With rising healthcare costs, climate risks, and demographic changes, insurance is no longer optional, it is essential social infrastructure. The GST framework must evolve to recognise this reality, writes Nangia & Co Managing Director Rakesh Nangia.As India completes eight years under the Goods and Services Tax (GST) regime, one area still caught in policy flux is the taxation of insurance premiums. Currently, a standard GST rate of 18% applies to most insurance policies (except life insurance with partial exemptions and health insurance for government schemes), which significantly increases the cost of premiums.Continue Reading with CNBC-TV18 Access MembershipPriority Access and Networking: CNBC-TV18’s flagship events Interaction with CNBC-TV18’s journalists Webinars & LIVE Q&As with India Inc. Leaders Exclusive CNBC-TV18 studio & newsroom tours Premium business insights, expert opinions & analysis Curated lifestyle privileges & offersBecome A Member

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