The date of GST Council Meet has been revealed. 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 to be imposed 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
Meeting will be held on 21st December
The meeting of the Goods and Services Tax (GST) Council will be held in Jaisalmer on December 21, in which a decision can be taken regarding exemption or lower rate from GST on health and life insurance. The council, headed by Union Finance Minister Nirmala Sitharaman and consisting of their state counterparts, can 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 Twitter that the 55th meeting of the GST Council will be held in Jaisalmer, Rajasthan on December 21, 2024. 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) meeting was held regarding imposition of GST on health and life insurance products.
