The minister stated that ‘levying GST on life insurance premium amounts to levying tax on the uncertainties of life.’He said, “The Union feels that the person who covers the risk of life’s uncertainties to give some protection to the family should not be levied tax on the premium to purchase cover against this risk.”As mentioned in the letter, the Union also raised points related to Differential Treatment to Savings by way of Life Insurance, the re-introduction of the IT deduction for health insurance premiums, and the consolidation of public and sector general insurance companies.Gadkari has requested FM to consider the suggestion of withdrawal of GST on life and medical insurance premiums ‘on priority’ as it becomes cumbersome for senior citizens who often face high premiums on health insurance.
sekar nallalu Cryptocurrency,Insurance Remove GST On Life, Medical Insurance Premiums: Nitin Gadkari Appeals To FM Sitharaman
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