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Insurance companies have sought to be included in the merit rate category for Goods and Services Tax (GST). This would mean that the service tax for insurers could stand at 5 percent, much lower than for other industries.V Manickam, Secretary General, Life Insurance Council, the umbrella body for all life insurers, that the industry confirmed the development to Moneycontrol. He said the body had sought a zero rate for insurance, which the government rejected.It is expected that the insurance ind...