GST Exemptions on Insurance:
With the launch of GST 2.0 in India, it has brought many reforms across the financial sector services, with the insurance field being one of the most watched sectors. For the borrowers, one of the biggest updates and relief is that of having GST exemption on certain types of insurance, especially for those linked to the loan protection plans. Because the protection policies are often combined with personal loans, home loans or education loans, this move has a direct implication for the millions of borrowers.