The GST Council, in its 54th meeting held on September 9, 2024, recommended the formation of a Group of Ministers (GoM) to address GST issues related to life and health insurance. The GoM will examine the current GST tax structure on life and medical insurance and suggest appropriate GST rates for various insurance categories, including individual, group, and family floater health insurance, as well as life insurance with and without investment plans. The ministers involved include representatives from various states, with Sh. Samrat Choudhary, Deputy Chief Minister of Bihar, appointed as the convenor. The GoM is expected to submit its report by October 30, 2024. Secretarial assistance for the GoM will be provided by JS(TRU-II), and the office memorandum has been circulated to relevant officials, including the Hon’ble Minister of Finance, Government of India, and other key members of the council.
OFFICE OF THE GOODS AND SERVICES TAX COUNCIL
SECRETARIAT
5th Floor, Tower-II, Jeevan Bharti Building, Connaught Place, New Delhi-110001
F.No. 406/GoMonLife&HealthInsurance/GSTC/2024 Dated; 15-09-2024
OFFICE MEMORANDUM
Subject: Constitution of Group of Ministers (GoM) on Life and Health Insurance
In its 54th Meeting held on 09.09.2024 in New Delhi, the GST Council discussed the need to holistically look into the issues pertaining to GST on life insurance and health insurance.
2. In the aforesaid meeting, the GST Council recommended to constitute a GoM to look into the issues related to GST on life insurance and health insurance. Accordingly, a Group of Ministers on Life and Health Insurance is being constituted with the following composition:
| S.No | Name | Designation and State | Position |
| 1 | Sh. Samrat Choudhary | Deputy Chief Minister, Bihar | Convenor |
| 2 | Sh.Suresh Kumar Khanna | Minister of Finance, Parliamentary Affairs, UP | Member |
| 3 | Sh. Gajendra Singh | Minister of Medical Health and Services (ESI), Rajasthan | Member |
| 4 | Smt.Chandrima Bhattacharya | Finance Minister, West Bengal | Member |
| 5 | Sh. Krishna Byre Gowda | Minister for Revenue, Karnataka | Member |
| 6 | Sh. K. N. Balagopal | Minister for Finance, Kerala | Member |
| 7 | Sh. Payyavula Keshav | Minister for Finance, Planning, Commercial Taxes and Legislative Affairs, Andhra Pradesh | Member |
| 8 | Dr. Pramod P. Sawant | Chief Minister, Goa | Member |
| 9 | Sh. Kanubhai Desai | Minister for Finance, Gujarat | Member |
| 10 | Sh. Conrad K. Sangma | Chief Minister, Meghalaya | Member |
| 11 | Sh. Harpal Singh Cheema |
Finance Minister, Punjab | Member |
| 12 | Sh. Thangam Thennarasu | Minister for Finance and Human Resources Management, Tamil Nadu | Member |
| 13 | Sh. Mallu Bhatti Vikramarka | Deputy Chief Minister and Minister for Finance, Telangana | Member |
3. The Terms of Reference for the GoM on Life and Health Insurance is
(i) to examine and review the present tax structure of GST on life and medical insurance and
(ii) to suggest GST rates on
(a) health / medical insurance including individual, group, family floater and other medical insurance for various categories like senior citizens, middle class, persons with mental illness, etc;
(b) life insurance including term insurance, life insurance with investment plans, whether individual or group; and
(c) and re-insurance of the above.
4. The GoM is to submit the report by 30th of October 2024.
5. JS(TRU-II) shall provide necessary secretarial assistance to the GoM. This issues with the approval of competent authority.
(RESHMA R KURUP)
UNDER SECRETARY
To,
The Hon’ble Members of the GoM.
Copy to:
1. PS to Hon’ble Minister of Finance, Government of India, North Block, New Delhi;
2. PS to Hon’ble Minister of State (Finance), Government of India, North Block, New Delhi;
3. The Nodal Officers of the States of Bihar, Uttar Pradesh, Rajasthan, West Bengal, Karnataka, Kerala, Andhra Pradesh, Goa, Gujarat, Meghalaya, Punjab, Tamil Nadu and Telangana with the request to intimate the Hon’ble Minister regarding their nomination as Members of the Group of Minister on Life and Health Insurance
4. The Revenue Secretary, North Block, New Delhi;
5. The Chairman, CBIC, North Block, New Delhi;
6. Joint Secretary, TRU-II, CBIC
7. All members of Fitment Committee
8. Nodal officers of all the States.
UNDER SECRETARY
