Union Minister Gadkari appealed to remove 18 percent GST on life and medical insurance premiums.

New Delhi: Union Road Transport and Highways Minister Nitin Gadkari has appealed to Union Finance Minister Nirmala Sitharaman to remove GST at the rate of 18 percent on life and medical insurance premiums. In a letter to the Finance Minister, Gadkari raised the concerns of the Nagpur Divisional Life Insurance Corporation Employees Union, which had given him a demand letter regarding insurance industry issues. Referring to this demand letter, Gadkari said, “Imposing GST on life insurance premium is equivalent to imposing tax on the uncertainties of life.” The employee union believes that a person takes insurance for the safety of his family. Therefore insurance premiums should not be taxed.