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<h1>GST exemption on individual life and health insurance premiums removes tax burden on insureds, lowering premium costs.</h1> The regulatory change exempts all individual life and health insurance premiums, including family floater, senior citizen policies and related reinsurance, from Goods and Services Tax effective September 22, removing the previously applied GST on such premiums pursuant to the 56th GST Council decision and implemented by insurers.
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