Reetu | Aug 6, 2024 |
GST of Rs.21255 Crs collected from Health Insurance Premium
The Minister of State in the Ministry of Finance Shri. Pankaj Chaudhary has stated in response to a question raised in Lok Sabha that GST of Rs.21255 Crs collected from Health Insurance Premiums.
The Minister Smt. Mala Roy asked the question in Lok Sabha:
Will the Minister of FINANCE be pleased to state:
(a) the details of GST tariff on Health Insurance in the last five years, year-wise; and
(b) the details of GST collection from Health Insurance premiums in the last three years, yearwise?
The Minister of State in the Ministry of Finance Shri. Pankaj Chaudhary replied:
(a): Since its inception, the GST rate on health insurance has been 18%. However, certain insurance schemes catering to poor sections of the society and differently-abled, such as Rashtriya Swasthya Bima Yojana (RSBY), Universal Health Insurance Scheme, Jan Argoya Bima Policy and Niramaya Health Insurance Scheme are exempt from GST.
(b): The details of GST collection from Health Insurance premiums and Reinsurance premiums for the past three financial years are tabulated below:
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