News From Press Removal of 18% GST on life, health insurance: 'Shall take up with the GST Council,' says FM Sitharaman

Removal of 18% GST on life, health insurance: 'Shall take up with the GST Council,' says FM Sitharaman

Source: ET Aug 7, 2024

On the withdrawal of 18% goods and services tax (GST) on life and health insurance premiums, Finance Minister Nirmala Sitharaman said on August 7, 2024, that tax had been there on medical insurance even before the introduction of GST. During her reply to the amendments of Finance Bill, 2024, Sitharaman said, "I want to raise two important points - tax has been there on medical insurance even before the introduction of GST."

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