#ZeeBusiness GST Cuts Could Lower Insurance Premiums by 15%, Says HSBC Report
GST Cuts Could Lower Insurance Premiums by 15%, Says HSBC Report
The GST Council is considering a cut in GST on health and term insurance, which currently stands at 18%. Proposals include complete exemption, a 5% slab, or 12% with input tax credit. HSBC estimates a full exemption could reduce premiums by about 15%, while even moderate cuts may ease costs. Though insurers may face short-term profitability pressures due to slower repricing, experts believe affordability will rise, boosting demand and supporting long-term growth in India’s insurance sector.
#InsurancePremiums #GSTCouncil #HealthInsurance #TermInsurance #HSBCReport #FinancialInclusion #InsuranceSector #Policyholders #IndianEconomy #InsuranceGrowth
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