New Delhi [India], September 4 (ANI): Trinamool Congress MP Mahua Moitra on Thursday recalled the role of West Bengal Chief Minister Mamata Banerjee as the Centre decided to exempt individual life and health insurance from the GST.
TMC MP mentioned that West Bengal CM had earlier written to Finance Minister Nirmala Sitharaman to exempt GST on life and health insurance.
In a post on X, Mahua Moitra said, “Didi @MamataOfficial wrote to FM @nsitharaman on Aug 2, 202,4, urging withdrawal of 18% GST on life & health insurance policies. FM has finally done it, albeit to offset the pain from friend Doland’s 50% tariffs. @AITCofficial continues to fight anti-people policies.”
https://x.com/MahuaMoitra/status/1963411003003043972
Earlier on Wednesday, the Union Government announced the complete removal of GST from individual health and life insurance.
The decision was taken following the GST council meeting headed by Finance Minister Nirmala Sitharaman. With the new reform, they have been moved to the zero-tax bracket, making health and life insurance more affordable and accessible to a wider section of society.
These reforms, cleared by the GST Council, are expected to reduce the cost of essential medical items and health-related financial services.
In addition to this, GST rates on several critical medical items have been reduced from 12 per cent to just 5 per cent. They include a thermometer, medical-grade oxygen, all diagnostic kits and reagents, glucometers and test strips, as well as corrective spectacles.
On the essential items front, items of daily household use will now cost less. Products such as hair oil, shampoo, toothpaste, toilet soap bars, toothbrushes, and shaving cream, which earlier attracted 18 per cent GST, will now fall under the 5 per cent bracket.
Similarly, butter, ghee, cheese, dairy spreads, pre-packaged namkeens, bhujiya, and mixtures have all seen their GST rate reduced from 12 per cent to 5 per cent.
Utensils, feeding bottles, baby napkins, and clinical diapers have also become cheaper with the rate cut to 5 per cent. (ANI)
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