Historic Diwali Gift for the Nation - NEXT-GEN GST REFORM

[aayusharyan]

The reduction of GST on medical insurance from 18% to 0% is certainly a big relief, but there’s a concern regarding the Input Tax Credit (ITC), which insurance companies will no longer be able to claim.

That means insurance companies usually pay GST on various overheads such as office rent, commissions, IT systems, claim processing, and healthcare network services. Earlier, they could offset this GST against the GST they collected while selling policies or charging premiums. In simple terms, the GST they paid to make the “product” could be deducted from the GST they collected when selling it.

Now, without the benefit of ITC, their operational costs will rise, and they may try to recover this by increasing the base premium of policies. In that case, how much this GST relief will actually benefit policyholders remains uncertain.

The policy prices will increase. I too agree with this logic.

 

[panchabhut]

coal and lignite has been moved to higher rate. that will have cascading effect. all sedan and SUV moved to 40% from existing 28%. alcoholic and non alcoholic beverages, fruit juice, carbonated and caffeinated beverages moved up.
just to name a few.

 

[Wealth is my birth right!]

coal and lignite has been moved to higher rate. that will have cascading effect. all sedan and SUV moved to 40% from existing 28%. alcoholic and non alcoholic beverages, fruit juice, carbonated and caffeinated beverages moved up.
just to name a few.

SUV move is good anyways its luxury

 

[KLB@96]

First things first, THERE'S NO SUCH THING AS GIFT. Its our money , our right.

 

[ccdc]

First things first, THERE'S NO SUCH THING AS GIFT. Its our money , our right.

No.... it's your money but it's the right of poor ppl...spl in a country like India.

 

[Exewhyzee]

India mein logo ki self respect/ conscious marr chuki hai. Government exorbitant tax lagaane ke baad bolti hai jao tumhe gift diya aur log usko bhi broadcast krte hai khushi khushi.