Brief by Shorts91 Newsdesk / 08:42am on 31 Jul 2024,Wednesday India
Union Minister Nitin Gadkari has requested Finance Minister Nirmala Sitharaman to withdraw the 18% Goods and Services Tax (GST) on life and medical insurance premiums. In a letter dated July 28, Gadkari stated that the tax hinders the growth of the industry and affects senior citizens. He emphasized the social importance of medical insurance and urged priority consideration for the GST removal. Currently, 18% GST is levied on life and medical insurance premiums, impacting the sector's expansion and society. Gadkari's request aims to alleviate this burden and promote the industry's growth.
