GST Council Meeting: Ahead of GST Council Meeting, Punjab Finance Minister Opposes GST on Health Insurance and Research

GST Council Meeting: Ahead of the crucial GST Council meeting, Punjab Finance Minister Harpal Singh Cheema expressed strong opposition to the imposition of GST on health insurance and research institutions. Speaking on behalf of both Delhi and Punjab, Cheema emphasized that both states share a unified stance on these key issues.

“Delhi and Punjab are on the same page regarding the agenda on health insurance. We firmly believe that GST should not be imposed on this. We will speak about scrapping GST on health insurance,” said Cheema.

Ahead of GST Council Meeting, Punjab Finance Minister Opposes GST on Health Insurance and Research

Cheema also highlighted concerns over GST on research activities, whether conducted by private or government institutions. “Research is being done for the country, for its development, and there should be no GST on it,” he added, stressing that such activities are vital for national growth and should be exempt from taxation.

Focus on Health Insurance and Research Exemption

Cheema's remarks come as both state governments prepare to push for critical exemptions in the GST Council meeting. The agenda will address whether health insurance policies, a vital safety net for citizens, should be taxed under the GST regime. "Health insurance is a basic necessity, and adding GST would make it less accessible to the people who need it the most," Cheema stated, advocating for affordability in essential healthcare services.

In addition to health insurance, Cheema highlighted the detrimental impact of taxing research initiatives. "Imposing GST on research activities, whether in private or government institutions, would hinder innovation and development in the country. These efforts are for the nation’s progress, and placing a tax burden on them is counterproductive," he said.

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