Foreign airlines exempted from tax on some service imports, e-invoicing extended to b2c transactions, GST lowered on some cancer drugs
A GoM will evaluate reducing GST on life and health insurance to boost affordability and increase insurance penetration in India
The Council is reviewing the GST rate structure as current collections, including cess, are underperforming relative to pre-GST levels
The Council must decide on the future of the compensation cess, collected to repay pandemic debt, after its repayment by March 2026
High GST rates, such as the 50% tax on certain cars, may be hard to justify, and rationalisation is needed to prevent system complexity
The challenge is to rationalise rates and adjust cess collections while ensuring the GST system remains efficient and boosts tax revenue