Govt collects Rs 8,263 cr towards GST on health insurance premium in FY'24

The government accumulated Rs 8,263 crore in GST from health insurance premiums for the fiscal year 2023-24. There have been appeals to exempt or reduce GST on life and health insurance premiums. Some insurance schemes for underprivileged and differently-abled groups are GST-exempt. The GST Council prescribes rates and exemptions.