• durgesh dubey
• 02 Aug, 2024

GST

West Bengal Chief Minister Mamata Banerjee has urged the Central government to roll back the Goods and Services Tax (GST) on life insurance and medical insurance premiums, arguing that the tax adversely affects people's ability to meet their basic needs.

In a post on X, Banerjee stated, "Our demand to the Government of India is to roll back GST from life insurance and medical insurance premiums on the grounds of people's health imperatives. This GST is detrimental as it adversely impacts people's ability to take care of their essential needs."

Banerjee also threatened to protest if the government does not withdraw the "anti-people" GST. Earlier, Union Minister Nitin Gadkari raised concerns about the GST on insurance premiums in a letter to Finance Minister Nirmala Sitharaman. He highlighted the issues brought up by the Nagpur Division Life Insurance Corporation Employees Union, which had submitted a memorandum regarding the insurance industry's challenges. Gadkari's stance was praised by Opposition parties.

Gadkari remarked, "Levying GST on life insurance premiums amounts to taxing the uncertainties of life. The Union feels that taxing the premiums paid to protect families from life's uncertainties is unjust".

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