GST Council to decide on cutting taxes on insurance premium; big-ticket rate rejig unlikely

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Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026, and the GST Council has set up a panel of ministers, under Union Minister of State for Finance Pankaj Chaudhary, to decide the future course of the cess.

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GST Council to decide on cutting taxes on insurance premium; big-ticket rate rejig unlikely

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