Union Road Transport Minister Nitin Gadkari and Finance Minister Nirmala Sitharaman face to face on GST
He has said that 18 percent GST on medical insurance premium is proving to be a hindrance to the development of this sector of business which is socially necessary. Along with this, the Union Minister has said that the union also raised the issue of treatment for savings through life insurance, re-introduction of income tax deduction for medical insurance premium as well as integration of public sector general insurance companies.
National News- Union Road Transport and Highways Minister Nitin Gadkari has written a letter to Finance Minister Nirmala Sitharaman. In which he has demanded removal of GST on premium of life and medical insurance. In a letter to the Finance Minister, Gadkari has said that Nagpur Division Life Insurance Corporation Employees Union has submitted a memorandum to him on these issues. In which he said that imposing 18 percent GST on life and medical insurance premium is tantamount to imposing tax on the uncertainties of life.Along with this, he has said that 18 percent GST on medical insurance premium is proving to be a hindrance to the development of this sector of business which is socially necessary. Along with this, the Union Minister has said that the union also raised the issue of treatment for savings through life insurance, re-introduction of income tax deduction for medical insurance premium as well as integration of public sector general insurance companies.
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