IRDAI Likely to Review GST ITC Impact on Insurance Distributor Payouts
Several private insurers in India have reduced distributor payouts by 15-18% to offset losses from the removal of Input Tax Credit (ITC) under GST, prompting industry associations and agents to escalate the issue with IRDAI and the Finance Ministry. Industry insiders warn that the current GST framework, if unadjusted, could …