GST on health insurance needs to be reduced: IFFCO Tokio's Subrata Mondal

Mondal discussed the future plan of the companies along with the emerging challenges for the sector

IFFCO Tokio General Insurance Company Limited (IFFCO Tokio) has sent its suggestions to the government, seeking to reduce goods and services tax (GST) rates on health insurance premiums to 5 per cent from the existing 18 per cent, said the firm’s Managing Director and Chief Executive Officer (MD & CEO) Subrata Mondal in an in-person interview with Harsh Kumar. Mondal discussed the future plan of insurance companies along with emerging challenges for the sector. Edited excerpts:

 

What is your view on the demand for reduction of GST on health insurance premiums?

 

For a long time, we have been discussing reduction