Nitin Gadkari the Union Minister has appealed to Union Finance Minister Nirmala Sithram to remove the GST on the LIC policies.
Perhaps this is the first time a ruling Minister i demanding his own government to remove the GST.
One must have the guts to do so. This is not the first time, but man times Gadkari has made appeals against his own Government for the welfare of the people. Some times he talked against his own higher ups also.
But he has been a minister who was delivering the works especially in terms of developing the infrastructure across the county for connectivity. This appeal to withdraw the GST goes well with the people of the country who are taking the LIC from the Government.
Earlier there was no GST on LIC, It may be recalled that part of the LIC has been privatised. Gadkari has said in his letter that he is writing to the Finance Minister following a memorandum from the Nagpur Divisional Life Insurance Corporation Employees Union.
“Main issue raised by the Union is related to the withdrawal of GST on Life and Medical Insurance Premium. Both life insurance and medical insurance premiums attract a GST rate of 18 per cent. Levying GST on life insurance premium amounts to levying tax on the uncertainties of life,” the Road Transport and Highways Minister has written
