A High Court decision granting interim relief on the applicability of GST for group insurance policies of bank retirees is likely to ease the burden on senior citizens.

While the GST Council has not exempted GST on group health insurance policies, a Kerala High Court has passed an interim stay order last week to exempt GST on group policies of retired bankers. The relief granted is not yet permanent and is subject to further Court hearings. Experts note that if upheld permanently and replicated by courts nationwide, it will be a big relief to retired bankers who opt for such group policies.

The writ petition was filed by the All India Bank Pensioners & Retirees Confederation and other individuals in relation to the Indian Banks’ Association (IBA) group health insurance policy jointly man

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