Recently there was demand to withdraw GST on both Health insurance premium and LIC premium paid by the policy holders. However the move is to reduce the same to 5 per cent. At present GST on Health insurance is 18 per cent on premium ie 9 per cent SGST and 9 per cent CGST. Government has also reduced the GST on cancer medicines. Now the GST council will meet again on September 23/24 to decide on the same. There is also demand to reduce the GST on real estate, housing prices. The land prices are soaring in Goa and same is bought by real estate developers from states like Delhi and Mumbai. The GST council should withdraw GST on health products as premium is high as the age increases and senior citizens pay high premium on health insurance. Since common man buys policy as part of security in both Health insurance and Life insurance, GST should be waived off and GST on casinos and games should be charged as per present rate. The GST council should consider the same and give relief to the common man.
