All the bank retirees who are senior citizens have group Medi claim policy issued by national insurance company under IBA. While individual policy for senior citizens is GST free, IBA group Medi claim policy is subjected to GST. At present the matter is sub judice in Kerala High Court.
There was no need for this case but govt is dragging the issue to get large amount of GST. Again 15 per cent commission is pocketed by IBA instead of distributing to all retirees and reduce their monetary burden. Policy premium is very high but no one is interested. Moreover High Court is seeking individual undertaking to pay GST which appears to be certain recovery of GST.
This is utter injustice to senior citizens. This government shows carrots everywhere but they don't see to the welfare of senior citizens.
