Mr Nitin Gadkari, Union Road Transport Minister and Highways has now joined the voices of opposition parties who opposed the 18 per cent GST on medical and life insurance schemes.
The senior minister has written to Finance Minister Nirmala Sitharaman asking to abolish GST on life and medical insurance premiums saying GST on life insurance premiums is tantamount to taxing the uncertainty of life.
In view of this, the insurance premium taken to provide some protection to his family should not be taxed.
Similarly, the 18 percent GST on medical insurance premium is a hindrance to the growth of this segment which is necessary for the society.
A senior cabinet minister publicly pressing the finance minister against the GST tax is attention grabing but no doubt commendable.
Congress, Rashtriya Janata Dal and Samajwadi Party have expressed their support for this demand.
What is Union Finance Minister Nirmala Sitharaman going to answer to Nitin Gadkari's request? Will GST on insurance schemes be abolished or reduced?
Central Minister joins calls against GST on Insurance premiums
04:08 PM Aug 03, 2024
| Afternoon News