Remove 18% GST on life, medical insurance premium: Nitin Gadkari writes to Nirmala Sitharaman

Gadkari argued that taxing these premiums equates to taxing life's uncertainties and hinders the growth of the insurance sector.

Union Minister of Road Transport, and Highways Nitin Gadkari has called for the elimination of the 18% Goods and Services Tax (GST) on life and medical insurance premiums.

In a letter dated July 28 to Finance Minister Nirmala Sitharaman, Gadkari argued that taxing these premiums equates to taxing life's uncertainties and hinders the growth of the insurance sector.

"You are requested to consider the suggestion of withdrawal of GST on life and medical insurance premium on priority as it becomes cumbersome for the senior citizens," Gadkari wrote.