West Bengal: Didi Demands Rollback of GST on Life, Health Insurance

Kolkata: Calling the GST on life insurance and health insurance products and abolition of tax reliefs in the union budget “highly anti-people,” West Bengal chief minister Mamata Banerjee has sought rollback of the steps.

On Friday, Ms Banerjee wrote in a letter to union finance minister Nirmala Sitharaman, “With deep anguish, I am writing to you regarding the imposition of 18% GST on life insurance and health insurance policies/products and the withdrawal of deductions in the new tax regime under sections 80C and 80D of the Income Tax Act, which, to me, are highly anti-people in nature.”

She pointed out, “Adding to their woes, particularly for the common people, is the withdrawal of incentives that were available under the Income Tax Act in the old tax regime. In light of the above considerations, I request you to kindly review the anti-people taxation policies and withdraw the GST on life insurance and health insurance premiums; and include deduction under sections 80C and 80D of the Income Tax Act on such premium in the new tax regime. In fact, this will facilitate wider insurance coverage for the common people with more mental and financial stability.”

The Trinamul Congress supremo added, “I believe you will take this request with utter seriousness and take necessary steps to provide relief to encourage more and more common people to avail of these critical services so close to their basic livelihood issues.”