The Directorate General of GST Intelligence (DGGI), the GST investigation agency, has served a Rs 1,728 crore demand notice on ICICI Lombard General Insurance for non-payment of tax in certain supplies between July 2017 and March 2022.
The insurance sector is pushing for a reduction in GST on health policies to bring more people under the insurance umbrella. There’s speculation that the GST Council is likely to reduce the GST on health policies from 18 per cent to 12 per cent or even lower.
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