GST revamp: Health policy prices may not drop as much as 18%
Health insurance premiums are unlikely to decrease by the full 18% GST cut due to insurers’ potential passing of input tax costs to consumers. While life insurance sees unexpected GST waivers, increased costs from unrecovered input taxes may affect bonuses. Non-life insurers anticipate a boost from higher automobile sales, pending clarity on input tax credit implications.🕒 1 min read
Health insurance premiums are unlikely to decrease by the full 18% GST cut due to insurers’ potential passing of input tax costs to consumers. While life insurance sees unexpected GST waivers, increased costs from unrecovered input taxes may affect bonuses. Non-life insurers anticipate a boost from higher automobile sales, pending clarity on input tax credit implications.
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