The fifty-fifth Goods and Services Tax (GST) Council meeting, scheduled for December 21 in Jaisalmer, will discuss proposed tax changes for life and health insurance premiums, including GST exemptions for term life policies covering families and health insurance for senior citizens. The Council will also consider reducing the GST rate on individual health insurance policies to 5 per cent. However, it will maintain the 18 per cent GST on premiums over ₹5 lakh (approx. $6,000), raising concerns that this could increase healthcare costs for middle-class families, particularly those with pre-existing conditions or requiring specialised care. Additionally, a retrospective 5 per cent GST on delivery charges by apps such as Zomato and Swiggy from 2022 will be clarified. Builders may also be required to pay tax on ‘floor space index’ charges.

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