Why Health Insurance Sector is eagerly waiting for GST Council Meeting:

GST Relief on Health Insurance Still Pending as No Council Meetings Held in Four Month After providing income tax relief in the February 1 budget, Finance Minister Nirmala Sitharaman said in March that preparations are now being made for relief in GST as well. However, it seems like people may have to wait longer for it. GST council meetings should be scheduled once every three months. However, the council meeting for GST relief has not been held for the last four months. The last meeting was in December, and there has been no meeting since then. GST rates can only be revised in the GST Council meeting. It was hoped that the GST Council meeting would take place by the end of April or the first week of May, but sources now say there is little chance of it happening before the end of May. In the next GST Council meeting, there are plans to discuss about simplifying the tax rates and updating the slabs. A group of ministers set up for this has already submitted their report. Experts believe that while discussions on rate relief may start in the upcoming meeting, any decisions will likely take at least two meetings to finalise.