Govt to form GoMs over health & life insurance, compensation cess

Finance Minister Nirmala Sitharaman said government's GST Council will be forming two Group of Ministers (GoM) to deliberate on rate rationalisation on medical and life insurance and on the road ahead for compensation cess. The GoM on insurance will discuss insurance-related matters like term life insurance and group insurance. GoM on compensation cess will determine the issue beyond March 2026.