Monday, May 24, 2021

AIBPARC letter to Union Finance Minister regarding GST on group mediclaim policy and medical bills

 AIBPARC letter on the above subject is reproduced below

May 23,2021.
Ms Nirmala Sitharaman,
Hon'ble Union Finance Minister,
Government of India, New Delhi.
Respected Madam,
Sub: A frantic appeal on behalf of the Retirees of the Banking Industry
to abolish the present GST rate of 18pc on premium of Group Mediclaim
and also on medical bills.
We learn that the meeting of the 43rd GST Council is expected to be held
shortly under the Chairpersonship of your good self. The whole country is
eagerly expecting that the Council would be considering, inter alia, the
reduction of GST rates on various medical essentials to curb the financial
burden of Covid 19 treatment. We seize this opportunity to place before you
the aforesaid proposal in brief without any elucidation since we have already
represented before your good self, Hon’ble MOS for Finance and Chairman,
IBA on a number of occasions.
Madam, the Retirees of the Industry, being elder and super elder citizens of
the country, are extremely vulnerable in the pandemic situation and the
number of unfortunate deaths reported from different parts of the country is
also considerably high. The Retirees are totally dependent on the medical
insurance which they have to purchase each year at an ever--increasing cost
and the high rate of GST is further escalating the burden to an unbearable
We appeal to you to kindly consider our proposal with sympathy and favour
as a part and parcel of the proposed relief to be extended for reduction of
financial burden of Covid 19 treatment and it would immensely benefit the
Retirees with scanty monthly pension & ex-gratia and family Pensioners
whose pathetic plight is already known to you.
With Kind regards,
Yours faithfully,
Suprita Sarkar
General Secretary.