I support and suggest withdrawal of GST

I support and suggest withdrawal of GST imposition on life insurance and health insurance 

In fact by imposing GST on the health and life insurance the government is discouraging few and imposing financial burden on many. considering the health conditions of the people in India (as per ghsi India's stands at 66 out of 195 countries -2021) insurance can no more be considered as luxury but be treated as a basic necessity. 

removing GST on insurance can also be beneficial considering the below facts

-it can help reduce poverty levels by preventing families from falling into financial distress due to health related expenses or the loss of a bread winner.

while the government may loss out on GST revenue initially, the long term benefits of a healthier, financially secure population could outweigh these losses.

-with more people insured there is a reduction in out of pocket expenses during medical emergencies which can help maintain consumer spending and support economic activity.

-when the people of India are claiming for free health and education.. the government can at least remove the GST on health and life policies.

one more point -when GST is not chargeable on health treatments why it should be charged on health policies.

B VENU GOPALA 

CHARTERED ACCOUNTANT IN PRACTICE 

HYDERABAD