TMC leader urges Finance Minister to remove 18% GST on health and life insurance premiums at GST Council meeting.

TMC leader Derek O'Brien urged Finance Minister Nirmala Sitharaman to remove the 18% GST on health and life insurance premiums during the GST Council meeting. O'Brien argued this tax burden affects 45 crore Indians, particularly the middle class, and may discourage people from opting for insurance policies. The Standing Committee on Finance recommends lowering GST rates on health insurance products and term policies for affordability.

August 25, 2024
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