Namkeen and cancer drug prices have come down, and now it's the turn of health and life insurance premiums.

GST: Prices of cancer drugs and snack packets have come down in the country. The Goods and Services Tax (GST) on cancer medicines and food items has been reduced in the GST Council meeting on Monday. Along with this, tax rates on life insurance and health insurance premiums are also expected to be reduced. A decision on this will be taken at the GST Council meeting in November. The GST Council has reached a consensus on reducing the tax rate on health and life insurance policy premiums. Finance Minister Nirmala Sitharaman said that the Council of Ministers will consider the premium of the insurance policy. Of this, a group of ministers will consider GST on premiums for life and health insurance policies, while the other will look into issues related to compensation cess (cess). The Council of Ministers will recommend the way forward for GST Compensation Tax. Generally, cess is levied on luxury and socially harmful goods. 7% tax reduction on cancer drugs Salt GST Council has reduced the tax rate on 6% cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12% to 5%. Apart from this, it has been decided to reduce the duty on certain types of nampin from 18% to 12%. However, the GST rate on car seats has been increased from 18 percent to 28 percent. It has already been decided to levy this fee to attract 28% GST and helicopter charter will be charged 18% GST. In addition, flight training courses conducted by Flight Training Organizations (FTOs) approved by DGCA (Directorate General of Civil Aviation) are exempted from GST. Also Read: Bad CIBIL score not a problem, recovery will be done through these methods GST Council discussed reducing tax on medical insurance and medical insurance, Nirmala Sitharaman said the Cabinet will give a report on health insurance in October. discussed. It was felt in the meeting that there is a need to further discuss insurance policies of Resident Welfare Associations and Group Companies and premiums paid by senior citizens and life insurance. He said the GST Council has realized that there are many dimensions to the issue of insurance. In such circumstances, it is necessary for the Ministerial Committee to consider the matter and submit its report by the end of October so that a decision can be taken in the GST Council meeting in November. Currently, 18% GST is levied on health and life insurance premiums. Also Read: Not Tata-Ambani… This Only Person In India Becomes Train Owner