LatestGoods & Service Tax (GST) 18 July 2026
GST Boosts Non-Life Insurance
Non-life insurance premiums increased by 16% in June due to strong auto sales and robust momentum in retail health, aided by the GST exemption on individual health insurance, according to a CareEdge report. This growth is driven by the performance of retail health insurance, which has been positively impacted by the exemption from Goods and Services Tax on individual health insurance policies.
The non-life insurance sector has seen a significant boost in premiums, with a 16% increase in June. This growth is driven by the performance of retail health insurance, which has been positively impacted by the exemption from Goods and Services Tax on individual health insurance policies.
Some key factors contributing to this growth include:
- Robust momentum in retail health
- Strong auto sales
- GST exemption on individual health insurance,
these factors have all contributed to the increase in non-life insurance premiums.
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.