Study of impact of GST on insurance policies and policy holders

GST is the act of unifying all taxes in India. It has removed all the indirect taxes and a single tax reform has been formed called GST. The idea of this paper is to understand the impact of Goods and Service Tax (GST) on insurance policy holders and agents. Opinions and view of the insurance agents and insurance policy holders were collected through the interviews and by administering the structured questionnaire. It was observed that the GST have a positive impact on insurance sector in India though there were negative views in the minds of both the insurance agents and insurance policy holders during the initial phase of implementation of GST.