GST Council Announces Key Rate Revisions for 2026
The GST Council has rationalized tax rates on multiple household items and services, providing relief to middle-class consumers.
In its latest session, the GST Council of India has revised and rationalized GST slabs on common appliances, public transportation services, and health insurance premiums. The rate on medical insurance premium has been lowered from 18% to 12% to increase healthcare access, while common electronic goods see a decrease to the 12% bracket. These adjustments are designed to boost domestic consumption and reduce the tax burden on middle-class families.
Key Takeaway for Citizens
Reduced tax on medical insurance premiums means lower premium payouts starting next month.
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