GST on Insurance Premiums. Union Minister of Road, Transport and Highways Nitin Gadkari has urged Finance Minister Nirmala Sitharaman to remove the 18 per cent Goods and Services Tax (GST) on life and medical insurance premiums as it leads to levying taxes on the uncertainties of life and restricts the sector’s growth, Money control reported.

 Expect positive for SBI Life, HDFC Life, ICICI Lombard, Nippon Life, LIC India, New India Assurance, GIC