The GST Council is set to discuss important issues like taxation on insurance premium, rate rationalization, and online gaming in its upcoming meeting. The fitment committee will present a report on GST levied on life, health, and reinsurance premiums, with a focus on reducing the tax burden on health insurance. The Council will also deliberate on the GST cut on life insurance premium.
Furthermore, the Council will review the status of online gaming taxation and the success of the drive against fake registrations for GST evasion. Amendments to GST law and taxpayer-friendly measures, like waivers and monetary limits for appeals, are also on the agenda. The Council remains committed to ensuring transparency and efficiency in tax administration.
Stay tuned for updates on the outcomes of the GST Council meeting and its impact on various sectors of the economy.
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