The Goods and Services Tax (GST) Council meeting will be held in Jaisalmer on 21 December, in which a decision can be taken on exemption or lower rate of GST on health and life insurance. The council headed by Union Finance Minister Nirmala Sitharaman and consisting of her state counterparts can also make some decisions on harmonizing the rates.

The date of the GST Council Meet has come out. The GST Council itself has given this information by tweeting. According to the tweet, the 55th meeting of the GST Council will be held in Jaisalmer. In this meeting, a decision will be taken on the tax levied on health and life insurance. There was a lot of discussion on this in the last meeting. Which was left for the next meeting. Let us also tell you what kind of decisions can be taken in the GST Council meeting.

The 55th meeting of the GST Council will be held on 21 December, 2024 at Jaisalmer, Rajasthan

— GST Council (@GST_Council) November 18, 2024

The meeting will be held on 21 December

The Goods and Services Tax (GST) Council meeting will be held in Jaisalmer on 21 December, in which a decision can be taken on exemption or lower rate of GST on health and life insurance. The council, headed by Union Finance Minister Nirmala Sitharaman and consisting of her state counterparts, may also take some decisions on harmonizing the rates. According to the recommendations of a committee of state ministers, tax rates on many items of common use can be reduced from 12 percent to five percent.

GST on Insurance

The GST Council posted on X that the 55th meeting of the GST Council will be held on December 21, 2024, in Jaisalmer, Rajasthan. In its last meeting on September 9, the Council had asked the GoM to submit a report on imposing GST on insurance. The report was to be finalized by the end of October. Last month, a group of ministers (GoM) met to consider imposing GST on health and life insurance products.