Tag: input tax credit insurers

GST Removed from Life & Health Insurance: LIC Sees ₹1,100 Crore Surge on Day One — What It Means for Policyholders & Insurers

Sep 30, 2025

—

by

Himanshu

in Economic News

In a sweeping tax reform implemented from 22 September 2025, the Indian government removed Goods and Services Tax (GST) from individual life and health insurance policies, setting the tax rate to zero. This bold move is intended to make insurance more affordable for millions of policyholders. On the very first day of implementation, Life Insurance…