IRDAI seeks GST rate cut from 18% to 5% on life and health insurance premiums

Life and health insurance premiums could soon attract lower GST to make them attractive for customers, if Insurance Regulatory and Development Authority of India (IRDAI) has its way. To help the insurance sector provide basic financial protection to the people, Insurance Regulatory and Development Authority of India (IRDAI) has approached the Finance Ministry again with a request to cut GST rates…