Gadkari Requests Fin Min To Withdraw 18% GST on Life & Medical Insurance Premiums

New Delhi: Senior BJP leader and Union Minister for Road Transport and Highways, Nitin Gadkari, has requested Finance Minister Nirmala Sitharaman to reconsider the imposition of Goods and Services Tax (GST) on life and medical insurance premiums.

In a letter written to the Finance Minister, Gadkari highlighted several points on behalf of the Nagpur Divisional Life Insurance Corporation Employees Union.

Gadkari emphasized the Employees Union’s plea to withdraw the 18% GST currently levied on both life and medical insurance premiums. “Levying GST on life insurance premium amounts to levying tax on the uncertainties of life,” Gadkari wrote.

The minister argued that taxing premiums intended to provide financial protection against life’s risks is not justifiable.

“The 18% GST on medical insurance premium is proving to be a deterrent for the growth of this segment of business which is socially necessary,” Gadkari further added.

Gadkari urged the Finance Minister to “consider the suggestion of Withdrawal of GST on Life and Medical Insurance Premium on priority,” particularly as it poses a significant burden on senior citizens.