GST Council Meeting: Finance Minister Nirmala Sitharaman has announced that a new Group of Ministers (GoM) will be looking into the GST rates for medical health insurance. The GoM will be submitting a report on the same by the end of October.
Post-review, the GST Council will meet in November to take the final decision on the GST rate. The announcement comes as a relief to those who were hoping to see a reduction in the tax levels levied on medical health insurance. Meanwhile, the council has reduced rates on cancer drugs from 12 per cent to 5 per cent.