New Delhi, Aug. 20 -- Finance Minister Nirmala Sitharaman on Wednesday addressed the Group of Ministers (GoMs) constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation at Vigyan Bhawan.

"Everyone expressed that Life and Health Insurance (for individuals) should be exempted from GST. The GST Council will decide," said Bihar Deputy CM Samrat Choudhary, who was present at the meeting.

Telangana Deputy CM Mallu Bhatti Vikramarka also confirmed that the GoM proposed a complete exemption on health and life insurance for individuals.

Currently, both health and life insurance policy premiums attract 18 per cent GST.

During the meeting, the Union Finance Minister emphasised that...