May 1, 2026

input tax credit

GST exemption hurting insurance brokers! Private insurance companies reduce commissions – to offset loss of input tax credit – The Times of India

GST exemption hurting insurance brokers! Private insurance companies reduce commissions – to offset loss of input tax credit – The Times of India

admin03 mins

After the removal of GST on insurance from 22 September, all insurance companies passed on the benefits to policyholders. (AI image) Insurance buyers may be feeling happy after the removal of GST, but agents and distributors are feeling the pinch. Insurance companies have reduced the commissions payable to distributors of insurance products to offset the…

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GST reforms: No input tax credit on commission for individual health, life insurance policies from Sep 22; insurers to bear cost – The Times of India

GST reforms: No input tax credit on commission for individual health, life insurance policies from Sep 22; insurers to bear cost – The Times of India

admin05 mins

Insurers will no longer be able to claim input tax credit (ITC) on Goods and Services Tax (GST) paid on commissions and brokerage for individual health and life insurance policies from September 22, the Central Board of Indirect Taxes and Customs (CBIC) clarified on Tuesday. The move comes ahead of the implementation of the new…

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GST reform push: Slash 18% on insurance agents’ commission to zero – The Times of India

GST reform push: Slash 18% on insurance agents’ commission to zero – The Times of India

admin02 mins

Representative Image (AI-generated) Life Insurance Council, a forum for stakeholders in the sector, has requested the GST Council and the finance ministry to reduce GST on agents’ commissions from 18% to zero. The request comes after GST on premiums and reinsurance were brought down to zero.The council feels that if agents’ commissions continue to attract…

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GST rate cuts from September 22! All you need to know about new tax rates for items – 75 FAQs answered – The Times of India

GST rate cuts from September 22! All you need to know about new tax rates for items – 75 FAQs answered – The Times of India

admin046 mins

The GST Council has sanctioned the reduction to just two tax slabs of 5 per cent and 18 per cent, taking effect from September 22. (AI image) GST rates slashed for several items! Essential everyday items including roti/paratha, hair oil, ice creams and televisions are set to become cheaper, whilst personal health and life insurance…

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