“Centre Exempts GST on Health Insurance Premium Following Bengal’s Efforts: CM Mamata”

West Bengal Chief Minister Mamata Banerjee claimed on Saturday that the central government’s likely decision to exempt GST on term life insurance premiums and health coverage premiums for senior citizens is a result of the state government’s sustained efforts. She added that the Centre appears to be “under pressure” to reduce taxes for the benefit of the common people.

An official announcement is expected soon, as a majority of the members in a state ministerial panel have expressed support for exempting GST on these premiums. The Group of Ministers (GoM), which met on Saturday, recommended exempting GST on health insurance premiums up to ₹5 lakh for individuals, including senior citizens. However, an 18% GST will still apply to health insurance premiums for coverage exceeding ₹5 lakh.

In a post on X, Banerjee highlighted her earlier appeals to the Union Finance Minister in August, urging the removal of the 18% GST on health and life insurance, which she argued discouraged vulnerable individuals from maintaining their insurance coverage. Banerjee acknowledged that while the GoM’s recommendation was not made out of goodwill, it was due to the relentless pressure from Bengal’s leadership.

She emphasized that if the GST Council approves the exemption, it will provide much-needed relief to millions of families across India, thanks to the efforts of Bengal’s leadership and their stance against what she described as “anti-people policies.”