GST on Insurance Premiums: बीमा पर GST हटने से आपको कितना फायदा? कब तक हटेगा GST| GoodReturns
आम आदमी को राहत देने वाली देश में इस समय एक नई बहस छिड़ी हुई है, वो है लाइफ इंश्योरेंस और हेल्थ इंश्योरेंस पर लगने वाला 18% जीएसटी, जिसे अब हटाने की मांग चल रही है. अगर ये टैक्स हट जाता है, तब आपको लाइफ इंश्योरेंस और हेल्थ इंश्योरेंस कितना सस्ता पड़ेगा?
#HealthInsurance #Insurance #GST #GSTonInsurance #LifeInsurance #MonsoonSession2024 #NirmalaSitharaman #NitinGadkari #ParlimanetLive
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#HealthInsurance #Insurance #GST #GSTonInsurance #LifeInsurance #MonsoonSession2024 #NirmalaSitharaman #NitinGadkari #ParlimanetLive
~PR.147~ED.148~GR.124~HT.96~
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NewsTranscript
00:00Finance Minister Nirmala Sitharaman has recently given a statement in the parliament that the
00:06government can consider removing the 18% GST on the premium of life and health insurance.
00:12For this, a proposal will be brought to the GST Council, where the central and all state
00:17governments will take a decision on it.
00:20So have you ever thought that if 18% GST is really removed from your insurance premium,
00:25then what will happen to your pocket?
00:28So let's try to understand in this video and also know what is the whole news.
00:32So the demand to remove GST on the premium of life and health insurance began with a
00:36letter from Central Minister Nitin Gadkari.
00:39Road Transport and Highways Minister Nitin Gadkari wrote a letter to Finance Minister
00:44Nirmala Sitharaman a few days after the budget to remove GST from insurance.
00:49He said that people bring insurance to avoid any uncertainty of the future.
00:55How can the government take a tax on any uncertainty?
00:58After that, the opposition also started surrounding the government on this issue, after which the
01:02Finance Minister gave a statement to bring a proposal in the GST Council for this.
01:07Now let's tell you that if this really happens, then how will you get insurance cheaper?
01:12So you pay monthly, quarterly, half-yearly or yearly for your life or health insurance.
01:18Every time you have to pay 18% GST on the premium.
01:22Now let's talk about the yearly premium to make the calculation a little easier.
01:27Suppose the annual premium of your health or life insurance is Rs. 20,000.
01:33Then you have to pay 18% GST on it.
01:36In this case, the money of GST on it was about Rs. 3600.
01:39Therefore, the total amount of your premium was Rs. 23,600.
01:44Now if the government removes GST on insurance, then your insurance premium will be reduced.
01:50By the way, the government can also decide to reduce its price instead of completely eliminating GST.
01:56In the last three financial years, the government has collected a revenue of more than Rs. 24,000 crores on the premium of life and health insurance.
02:05However, during his answer to the parliament, Finance Minister Nirmala Sitharaman said that
02:09even before the implementation of GST in the country, medical insurance was taxed.
02:15The rate of GST on insurance from 18% to the industry experts say that
02:20GST on the premium of life and health insurance is to incite people to take insurance.
02:28The main reason for this is that the benefit of a financial product like insurance is mostly found in people entering the hospital or in the condition of death.
02:37In this case, the high rate of GST on premium can disappoint ordinary people.
02:42Well, if such a decision is made that 18% GST will be removed from insurance, then people will really benefit a lot.
02:49How did you like this step of the government? Do tell us by commenting.
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