The Life Insurance Council is lobbying for a lower rate of GST ahead of the union budget, from the current 18% to the 5% slab for protection-based services, arguing that it is not a luxury consumption item.source https://economictimes.indiatimes.com/industry/banking/finance/insure/indias-life-insurance-industry-seek-tax-break-on-protection-policies/articleshow/80138758.cms
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