Chennai, Sept. 8 -- With the government announcing the scrapping of 18 per cent Goods and Services Tax (GST) on individual health and life insurance policies, there remains a lack of clarity on group insurance policies that cover individuals, said an industry expert.
There are two types of group insurance policies. One is taken by a company for its employees and dependents, where the company pays the premium along with GST.
The other type is also taken by a company, but the premium amount is paid by the individual covered under the policy.
Already, retired bankers have written to Finance Minister Nirmala Sitharaman, requesting her to exempt them from GST in the case of health insurance under a group policy.
"In both cases, the premium i...