Opposition to Protest Against GST On Health & Life Insurance, Watch Big Updates | ABP News

Former BJP President and current Union Minister for Road Transport Nitin Gadkari has written a letter to Finance Minister Nirmala Sitharaman, requesting the removal of GST on life insurance and medical insurance premiums. Gadkari has called for the elimination of GST from these insurance payments. Currently, life and medical insurance premiums are subject to an 18% GST. This is not the first time that significant GST rates on health and life insurance products have been questioned. Earlier this year, in February 2024, the Standing Committee on Finance in the 17th Lok Sabha recommended that the government rationalize the GST rates on insurance products, specifically focusing on health and term insurance premiums. Today, opposition MPs are also expected to stage protests in Parliament regarding this issue.