Leaders Unite: Call for GST Removal on Life and Medical Insurance

Several political leaders, including West Bengal Chief Minister Mamata Banerjee and Union Minister Nitin Gadkari, have called for the removal of the 18% GST on life and medical insurance premiums, arguing it negatively impacts people's ability to cover essential needs. The GST council will revisit this issue in August.

In a united front, several political figures, including West Bengal Chief Minister Mamata Banerjee and Union Road Transport and Highways Minister Nitin Gadkari, have voiced their support for the removal of the 18% GST on life and medical insurance premiums. Banerjee emphasized that the tax adversely affects people's ability to meet vital health needs.

Gadkari's call for action, supported by various opposition leaders, argues that taxing life insurance premiums is akin to taxing life's uncertainties. His letter to Union Finance Minister Nirmala Sitharaman stressed the urgent need for reconsideration.

As the debate intensifies, the GST council, which last convened on June 22, is slated to revisit this contentious issue in its August meeting.

(With inputs from agencies.)