Opposition MPs demand18% GST rollback on health and life Insurance premiums
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New Delhi: A day after the government claimed rise in GST collection from health insurance premiums, Opposition MPs of the INDIA alliance protested at Parliament premises demanding a rollback of 18% GST on health and life insurance premiums.
The Union ministry of finance replied in writing to the question by Trinamool Congress MP Mala Roy that Rs 24,529.14 crore in GST had been collected from health insurance premiums and re-premiums between 2021-22 and 2023-24, The Wire reported.
It is reported citing data that GST collection on health insurance premiums spiked from Rs 5,354.28 crore in 2021-22 to Rs 7638.33 crore in 2022-23 to Rs 8262.94 crore in 2023-24.
The collection also marked a rise in this period from Rs 825.95 crore in 2021-22, to Rs 963.28 crore in 2022-23 to Rs 1,484.36 crore in 2023-24.
Carrying banners and posters, the Opposition MPs belonging to the Congress, TMC, NCP (Sharad Pawar), Aam Aadmi Party (AAP), DMK, and RJD shouted “medical insurance GST wapas lo”
The TMC in a statement accused the BJP-led government of attempting “to fleece the nation by imposing 18% GST on life & health insurance, MPs of the INDIA Alliance are standing firm in parliament.”
The Congress leader Rahul Gandhi termed what he said the attempt to tax every disaster a proof of the BJP government’s ‘insensitive thinking’ and demanded to make Health and life insurance GST free.
As the proceedings in the House started, speaker Om Birla called it ‘not appropriate’ to protest at Makar Dwar.
“After discussions with all parties, a consensus was reached that protests and demonstrations would not be held on any of the entrances (dwars) in parliament..I request all of you to abide by the decisions that have been taken by you … I had gone there in the morning, this is not appropriate,” he was quoted as saying.
Meanwhile it is reported that Union minister Nitin Gadkari on July 31 wrote to Finance Minister Sitharaman ,urging for a rollback in the GST on medical and life insurance premiums.