The Impressive TimesThe GST is applied on life and health insurance premiums at the rate of 18%. In a letter to Finance Minister Nirmala Sitharaman, Minister of Roads, Transport, and Highways Nitin Gadkari requested the removal of the 18% Goods and Services Tax (GST) from life and health insurance premiums, according to Moneycontrol.
According to the newspaper, which cited the letter, Nitin Gadkari stated that the GST limits industry expansion and is like taxing life’s uncertainties. The GST is applied on life and health insurance premiums at the rate of 18%.
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