GST relief on health insurance may lead to Rs 3,500 crore Revenue Loss To GOVT.

GST relief on health insurance may lead to Rs 3,500 crore revenue loss, says govt official 📊

📮 A proposal to exempt health insurance policies from the 18 percent goods and services tax (GST) could deal a Rs 3,500 crore blow to government revenues annually, according to a senior official who is part of the Fitment Committee considering the plan ahead of the GST Council’s September 9 meeting.

📮 “If we exempt full health insurance, the loss will be almost Rs 3,500 crore. If approved by the Council in the meeting on September 9, ” Exemption of health insurance from GST will cause a huge revenue loss,” the official said, requesting anonymity.

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