<h1>Centre proposes exempting life and health insurance premiums from 18% GST as GoM readies report on reforms</h1> The central government has proposed exempting life and health insurance premiums from the 18% GST, according to the convenor of the Group of Ministers (GoM) on insurance, with the GoM set to submit a report to the GST Council that includes state concerns. GoM members broadly approved lowering rates, though the Council will make the final decision. The proposal is part of a next-generation GST reform envisaging two rates (5% and 18%). The 13-member GoM, formed in September, must report by October end. In 2023-24, GST collections were Rs 8,262.94 crore on health insurance and Rs 1,484.36 crore on health reinsurance.