The Headlines – GST exemption hurting insurance brokers! Private insurance companies reduce commissions – to offset loss of input tax credit

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The Headlines – GST exemption hurting insurance brokers! Private insurance companies reduce commissions – to offset loss of input tax credit

Insurance agents and distributors face reduced commissions following the removal of GST on insurance policies. Insurance companies are cutting agent payouts by 15-18% to cover increased operating costs due to the loss of input tax credit. This move impacts the earnings of intermediaries.

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