IRDAI in talks with govt to trim GST on essential insurance products

Insurance Regulatory and Development Authority of India (IRDAI) is in talks with the government to reduce the goods and services tax (GST) on essential insurance items. Speaking to reporters on the sidelines of an IBAI insurance summit in Mumbai, Chairman Subhash Chandra Khuntia said these could include property insurance in vulnerable areas. IBAI is Insurance Brokers Association of India. The GST…