'There Should Be No GST On Research': Punjab FM Ahead Of GST Council Meeting

Punjab Finance Minister Harpal Singh Cheema opposed the GST on health insurance and the research ahead of the 54th GST council meeting. The meeting is scheduled for September 9, 2024, where crucial issues including the future of GST compensation cess and potential changes to the GST rate on insurance premiums will be discussed.

While talking to the ANI the Punjab leader said, “Delhi and Punjab are on the same page regarding the agenda on the Health Insurance – whether GST should be imposed on the Health Insurance. GST should not be imposed on this”. He further said to speak about the scrapping GST on the Health Insurance.

Cheema opposed the imposition of GST on both private and government research. The FM said, “The second biggest issue is about research, be it a private or government institution, we opposed GST on them. Research is being done for the country, for its development, so there should be no GST on it…”

#WATCH | Delhi: Ahead of GST Council meeting, Punjab Finance Minister Harpal Singh Cheema says, “Delhi and Punjab are on the same page regarding the agenda on Health Insurance – whether GST should be imposed on Health Insurance. GST should not be imposed on this…We will speak… pic.twitter.com/qS2qHclYjF

— ANI (@ANI) September 9, 2024

The GST council is expected to review key relief measures as reduction in GST for cancer drugs, possible exemptions for electricity meter services, adjustment for real estate and metal industries. Property buyers and students are expected to be benefit from the proposed changes.

The council may clarify on the GST applicability on payment agreegators which may impact PineLabs and Razorpay.