GST status quo disappoints traders, insurance bulls run for cover

September 11, 2024

Traders reduced their bullish bets on insurers after the GST Council left rates on insurance products unchanged. HDFC Life, ICICI Prudential Life, and ICICI Lombard saw declines. The industry is lobbying for a rate cut from 18% to 12%. A group of ministers will review the proposal before the next meeting in November.

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