Gadkari highlights that GST on life insurance premiums taxes uncertainties and restricts the sector's growth, urging for its removal.
Gadkari highlights that GST on life insurance premiums taxes uncertainties and restricts the sector's growth, urging for its removal.
The 18% GST on medical insurance premiums is a deterrent for growth in a socially necessary sector, according to Gadkari.
The 18% GST on medical insurance premiums is a deterrent for growth in a socially necessary sector, according to Gadkari.
Gadkari emphasizes the cumbersome effect of GST on insurance premiums, particularly for senior citizens, and calls for its removal.
The Nagpur Divisional Life Insurance Corporation Employees Union submitted a memorandum highlighting industry challenges due to GST.
The union pointed to differential treatment of savings via life insurance and the reintroduction of tax deductions for health premiums.
The GST Council will discuss these concerns in August, following their last meeting on June 22.