To
Sri S C Jain General Secretary
All India Bank Retirees Federation (AIBRF) INDORE.
Dear Sir,
Reg: GST on Health Insurance Premium paid by Banks – Passing on Input Tax Credit (ITC) Benefit to employees/retirees *****
We inform that the Bank Employees and Retirees Health Insurance year commences from 1st November, every year. This year too, Banks have circulated the IBA Group Medical Insurance Policy – 2026-27 with premium rates for Base Policy as well as Top Up Policy for both in-service & retirees separately. It may be observed that the Banks are paying huge amount towards GST at 18% on Health Insurance Premium on behalf of in-service staff and also remitting GST collected from Retirees.
In the recent 57th GST Council Meeting held on 8th October, 2026, under the Chairmanship of Hon’ble Union Mistier of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, it is decided to benefit the employers (banks) to get Input Tax Credit (ITC) on GST paid on employees’ insurance cover.
As such, Banks are going to benefit on the GST paid on Employees Health Insurance policies premium through ITC as per the above news report. We request AIBRF to represent this issue. The said news report is attached to this letter.
We may request the banks to first pay the GST on premium for retired staff, and debit/collect from retirees later, so as to claim ITC. The relief gained through ITC may be passed on to retirees either by way of subsidy/medical allowance or otherwise.
Please examine this issue and address a letter to IBA in this regard.
Thanks & Regards,
Yours sincerely,
(N S N REDDY) GENERAL SECRETARY
Encl.: Press Report on GST & ITC
Press Release Page | Press Information Bureau
GST Council allows employers to get Input Tax Credit on GST paid for employee insurance cover
Currently, an 18 per cent GST is levied on all such group insurance
policies. Almost every organised employer provides cover for its workforce, so the cost of providing the coverage comes down, which should assist the spread of cover and the insurance industry itself, sources added.
The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers on Thursday has allowed employers to get Input Tax Credit on GST paid for employee insurance cover.
Currently, an 18 per cent GST is levied on all such group insurance policies. Under the Goods and Services Tax law, GST is exempt on individuals buying life or health policies for themselves or their family. However, when a business buys life or health cover for its employees, tax is charged on that cover, and until now the business could not claim ITC on it.
“This will make insurance cheaper for every employer to provide”, industry sources said.
***
6 comments:
https://www.youtube.com/watch?v=iiGmvBGMXg8
DIPKE , SAURAV DAS கைது • டெல்லி போலீஸ் அதிரடி • VENKAT • PGURUSTAMIL Commemt @prabhasenthil3921 50 minutes ago It’s not arrest, detention @subaramaniansubaramanian6536 2 minutes ago My...dear....people...I...love...india.pleace...do...not...help...c..j...p Transcript: If we were talking now, we would have already seen the CJP protest at Thandar Mantar in Delhi.
0:088 secondsThe same CJP protest led to the resignation of a Union Minister, creating a big problem. Today, the Delhi Police has announced a similar protest.
0:1616 secondsAjith Deepke, who came from Germany after being denied permission, is now saying that he is a member of the CJP.
0:2323 secondsAll the Sauravadas have come and been arrested because they said they shouldn't do Tantra Mantras without permission.
0:3131 secondsImmediately, what is being said from these people is that even Indira Gandhi was not so patient, and Narendra Modi has come with his dictatorship.
0:3939 secondsThey are asking why there is such a fear and asking what is happening in Delhi, what is the emergency for them?
0:4848 secondsI don't know. Those who wrote the truth were arrested. Okengala Chinna, that is, there is not even a protest, the government said that they were protesting.
0:5656 secondsIt was done. Here Prakashraj went and told all these lies and such a shameful thing about Modi that he allowed the Karnataka government to disband.
1:051 minute, 5 secondsI will support this protest, Pannagala. The Congress government that said that is from Kerala. Of course, I will say that the Kerala government
1:121 minute, 12 secondsListen carefully to what they said. The Congress government that said that is running away from Kerala. But what is the Kerala government saying? What did the Kerala CM say? Elections are good.
1:201 minute, 20 secondsIt happened and I won, that's what they said. Okay, but if they disbanded the Congress government like that, I call it an emergency.
1:271 minute, 27 secondsI would like to answer the question of the Simbla audience, what if you have a food shortage?
1:341 minute, 34 secondsWe should not be dependent on America for food, vegetables and agricultural products.
1:431 minute, 43 secondsIf you think that's the case, support this protest. The people behind this protest.
1:501 minute, 50 secondsI think you understand, our food industry has improved tremendously. I will tell you the background of this Sijapi protest, our food industry.
1:591 minute, 59 secondsIt's been a great improvement, okay? Right now, the world is experiencing economic contractions to a great extent due to this war.
2:072 minutes, 7 secondsWe are the only ones who are not affected and are in control, that's why malls are still full, and fast food centers are still full.
There are many people who come and watch movies, but even if the movie is not good, the theater bill is still there. So, because we have that eating habit, the food industry is very popular.
2:232 minutes, 23 secondsThere is a food industry in India that sells its agricultural products and its hybrids.
2:312 minutes, 31 secondsAmerica has planned to sell agricultural products and how to sell them with zero import. Now, it is a hybrid with America with zero import.
2:392 minutes, 39 secondsIf the goods arrive in India, I will tell you a story. If a kilo of potatoes costs 20 rupees, then the same potato will cost 12 rupees per kilo.
2:482 minutes, 48 secondsYou can sell it. What will you and I buy? Karthik, let's buy 12 potatoes. Okay, we don't have any potatoes in the bar.
2:562 minutes, 56 secondsI don't know about imported potatoes, so will local agriculture be affected? He can't give 12. Find out. This guy is zero.
3:033 minutes, 3 secondsHe's giving it to the input. He already has a lot of American money. So even if we give him a little bit of our loss at the beginning, it won't be bad if we give him ours.
3:113 minutes, 11 secondsLocal farmers will be affected because now they don't come to us just for business, we have a lot of food industry needs, their hybrids are hurting.
3:193 minutes, 19 secondsOur farmers have completely destroyed our seeds, and now we may face a food shortage in a few days because of the rain this time.
3:283 minutes, 28 secondsOkay, okay, after that woman made her dependent and took his things, you took so much.
3:353 minutes, 35 secondsI will give it only if you create it, I will give it only if you sign a treaty with me, I will give it only if you create a canal for me, I will give it only if you create a canal for me, that's it.
3:433 minutes, 43 secondsWe will only give you control if you stop your space project. Think about it, people, is all this okay with you?
3:503 minutes, 50 secondsModi has been saying till today that this should not happen, I will not allow imports of Zero, I will not let my farmers die, Zero.
3:593 minutes, 59 secondsTrump even made a statement saying that Modi had agreed to the input, but that was an imitation, not ours.
4:054 minutes, 5 secondsThe answer is no, S, tell me, tell me, so now that import is not happening.
4:134 minutes, 13 secondsTrump turned against Modi, now I will tell you another angle, Thalais, listen patiently, Trump, Molly, Dosta, that's how it was, Rum Elagan
4:224 minutes, 22 secondsThe reason for the victory is Modi. He went there and gave a speech. India was there. But whoever opposed it, it was the Deep State.
4:314 minutes, 31 secondsIf he came against it, Modi would have helped him, but Trump is a very egotistical person with a personal ego. In this film, the citizens have three egos.
4:394 minutes, 39 secondsThat guy came to power and just destroyed the whole town. What's wrong with him? America only progresses when it's in my town.
4:484 minutes, 48 secondsNot only that, but it's also tempting to eat vegetables that are imported from the US, so zero.
4:564 minutes, 56 secondsTrump wants to bring everything, Modi can't even ask Modi, can't even tell me, can I oppose any deep state?
5:045 minutes, 4 secondsTrump and Modi won, the Deep State and Trump are now one in India, just like they are in Bangladesh.
5:115 minutes, 11 secondsThey can create a fake revolution and pretend to be the government of India, but then it's just a number.
5:205 minutes, 20 secondsThe result is that whoever becomes the Prime Minister of Bangladesh, elects to receive the Nobel Prize in America.
A Bangladeshi ex-Bangladeshi who was in America for 15 years is now acting as an advisor and acting as a puppet Prime Minister.
5:365 minutes, 36 secondsWe have two people who can play the role of puppets in India, one is Rahul Gandhi and the other is Deepke So, put them in some big position.
5:445 minutes, 44 secondsAre you trying to come and bring India under control and then colluding with America? I will give you 100% proof of that.
5:525 minutes, 52 secondsDon't just say it, Karthik, I'll give you the proof. Before this Deep State problem started, Deep K Deep K came to America and studied at a university.
6:006 minutesHe studied at which university? We should all come and buy one from our local university.
6:086 minutes, 8 secondsWhat do you mean, just because you got a degree doesn't mean you can't take a photo and post it on social media? If he went to an American university, which university did he study at?
6:166 minutes, 16 secondsStudents, show me the graduation ceremony. Now, even our Udhayanidhi Stalin's son has come and studied in the bar. Let's see the graduation ceremony photo.
6:246 minutes, 24 secondsWe asked for that, and it's the same with Deepke, there's no graduation ceremony photo. Where did you study? But is Kashmir India against India?
6:326 minutes, 32 secondsNo, listen carefully, people. This is a photo of him being in a meeting with many people who said that Kashmir does not belong to India.
6:406 minutes, 40 secondsHe has revealed it himself. How is it? Is it okay? Not only that, but the Deep State, that is, the secret society of Namanta, is this.
6:486 minutes, 48 secondsVivegam also appears in the film. Look, that kind of secret alliance is what it is. So, did you come and see them?
6:586 minutes, 58 secondsA person who wants to control all the people in the world is a person who is trying to control the entire world.
7:057 minutes, 5 secondsHe was also present at the meeting. Similarly, how did the US-sponsored protests take place in Bangladesh?
7:117 minutes, 11 secondsThe exact same steps, even the same template for stopping the lorry, are the same.
7:197 minutes, 19 secondsWhat have they forgotten? Social media is a joke, help us, okay? This is all.
7:277 minutes, 27 secondsThe American Revolution protest is the right thing to do, but this protest is a blessing in disguise.
7:347 minutes, 34 secondsIf you say you don't want to import 0% of American agricultural products, we won't import 0%, so you're saying you're competing, okay?
7:437 minutes, 43 secondsThen the problem started. After Elanvas came and said, "Can't you bring Starling?", this problem went away. That's how it is.
7:527 minutes, 52 secondsWhat do you mean by "Dots"? No, what are they asking? There has been a big complaint in the SIR.
8:008 minutesWe should go and change the Election Commissioner. The opposition parties are asking Rahul Gandhi what he wants. I should see the Election Commissioner. The CJP is saying that these people should come and remove Gyanesh Kumar.
Opposition parties have the right to protest. They have a democratic right to protest. Why is Modi preventing it? What is he afraid of? Gyanesh Kumar
8:208 minutes, 20 secondsIf you ask a question, it is an independent body, but why is the BJP defending it and answering it? When is the BJP asking such a question?
8:298 minutes, 29 secondsGyanesh Kumar did the right thing by getting a lawyer, my friend. Now, it's independent. You or I can talk, okay? But Gyanesh Kumar.
8:378 minutes, 37 secondsWhat did Wright do? No one said we will stand for him. What is he saying? A minister came and openly supported the BJP. No one talks about it.
8:458 minutes, 45 secondsWhat are they saying? You are ordering me to explain my position. I cannot follow it because Hasnat is not a judge. So, judiciary means law.
8:558 minutes, 55 secondsThe judiciary also has the right to the Constitution. Who is the Prime Minister, the Leader of the Opposition, or another party member?
9:029 minutes, 2 secondsEveryone has the right to appoint a Chief Election Commission of India. Even Rahul Gandhi has that right.
9:109 minutes, 10 secondsHe came to make an appointment while I was there. After making the appointment, he went with the three SIAM members to accept the offer. Rahul Gandhi had to wait for a while.
9:189 minutes, 18 secondsThey went with the acceptance and there is evidence that they implemented it correctly. Now you have to do this.
9:269 minutes, 26 secondsEarlier, the Education Minister came and asked you to remove him. How did you remove him? The crime was proven. Of course, BJP.
9:349 minutes, 34 secondsAction was taken against 46 people, but they were protesting, so there was a justification for it, so they were asked to remove it.
9:429 minutes, 42 secondsYou went to the Supreme Court and brought a case to prove the crime. There is no evidence in the Supreme Court. The SIR was correct.
9:499 minutes, 49 secondsYou have proven that not only that, but also that protesting is a democratic right. You said that you and I came to protest that question.
9:589 minutes, 58 secondsWe are holding a small protest, no, you and I are holding a temple procession. If you ask for permission, Karthik will give it to you. The police will not think about it. I will give it to you.
10:0710 minutes, 7 secondsI have done Radha Kalyana processions many times, but now an official appandar is a villager's name.
10:1710 minutes, 17 secondsThey have been beaten and broken. Our Thirumavalam would say that only those who have received public damage cases can remain in the party. They can file such public damage cases.
10:2410 minutes, 24 secondsSomeone who obstructed the public during the procession, misbehaved with women, and damaged property, someone else went and asked for permission.
10:3210 minutes, 32 secondsThey ask for it immediately, the police should not give it to them legally, the protest in the Mandarla area of Gona Thadava
10:4010 minutes, 40 secondsYou were given space and security, but the MP, who was shocked by the Jantar Mantar,
10:4810 minutes, 48 secondsWhy did they give an announcement that they were going to Parliament? Someone must have spoken today about the struggle that is taking place in the CJP party.
10:5610 minutes, 56 secondsIt's a place where you can hold a ceremony, a place where you can get permission for it. Why don't you allow it there? You've given it to me last time.
11:0211 minutes, 2 secondsWe gave you permission from birth. What are you doing? Come and try to go to Parliament. You are not allowed to go to Parliament. You came.
11:1111 minutes, 11 secondsDid you see that it was wrong to insult the Prime Minister's mother in a public forum and insult those who are in your struggle?
11:2011 minutes, 20 secondsIf it's easy to scold someone's mother, it's easy for them all. Karunanidhi shouldn't talk about his corruption because he's dead.
You shouldn't talk about corruption when you're dead, but you can't talk about Modi's mother, a woman who has nothing to do with it.
11:3611 minutes, 36 secondsThe youths were sure to go to Parliament and attack two or four people there, so they were not allowed to go towards Parliament, so they put up barricades to prevent them.
11:4411 minutes, 44 secondsHow to use pepper spray. They use pepper spray. Bengal should not go to the parliament during the protest. Journal.
11:5111 minutes, 51 secondsEven the police who stopped them from going beyond the permit could not stop them, so they climbed over the barricade and pepper sprayed them. How can you use pepper spray?
11:5911 minutes, 59 secondsYou brought it, if you saw it there, they were carrying a knife, they were carrying a rolling pin, where did this weapon come from, where did the stones come from?
12:0712 minutes, 7 secondsCome, let's protest, you will do it properly, but like a protest, you will come and break your rules.
12:1312 minutes, 13 secondsTalking about the Indian Army in a rude manner
12:2312 minutes, 23 secondsYou are a protester, you are breaking the restrictions given to you, you are a protester, you are taking violence into your own hands, you are a protester, Pepper.
12:3312 minutes, 33 secondsYou are attacking the police, they are also human beings, you are talking about the Indian Army, you are making it viral on social media, you are taking away India's sovereignty, last but not least
12:4112 minutes, 41 secondsIndia is already a land of riots because of the protests. So listen carefully, mothers and fathers.
12:4912 minutes, 49 secondsListen, children, to everything, already and already Middle East War, without employment, every
12:5712 minutes, 57 secondsNot just engineers, every graduate is struggling, and some investment is coming to India. Even now, India is launching its own B.
13:0513 minutes, 5 secondsThey've launched their own chip, and they're trying to ruin everything by talking about it in a nasty and nasty way, and making it go viral.
13:1213 minutes, 12 secondsWe are banning it because we don't want it. What are the motives of CJP and Raja?
13:2113 minutes, 21 secondsThank you Karthik for asking the question. What is the motto of this protest?
13:2813 minutes, 28 secondsNo one will talk about it. Thank you for asking that question. Two things will happen anyway.
13:3613 minutes, 36 secondsLet's just try and see. Somehow, we tried in India to overthrow this regime and listen to our talk, and listen to Trump's talk with America.
13:4413 minutes, 44 secondsIf a government comes to power, it will exploit the food industry in India and displace the farmers here, so that the food industry can make its own
13:5113 minutes, 51 secondsBecause only then can India be controlled, America's plan is number one.
13:5913 minutes, 59 secondsMany companies are already struggling due to the problems in the Middle East.
14:0514 minutes, 5 secondsThey won't take on the next project, so there is a shortage of not only employment for the youth but also employment for those with experience.
14:1414 minutes, 14 secondsDespite such a situation, India's Make in India initiative has created a lot of manufacturing opportunities.
14:2214 minutes, 22 secondsThere are still many issues, including satellite manufacturing, satellite privatization, etc.
Satellite Country Satellite is our country's third aircraft, railway manufacturing, defense manufacturing, all that is good, they are there.
14:3714 minutes, 37 secondsBecause everyone is investing in India, India is now a land of riots. Gangsters are everywhere in India.
14:4414 minutes, 44 secondsLook at how a PM talks. Men came to that protest wearing ragged clothes, while men wore a two-piece dress that a woman could wear.
14:5314 minutes, 53 secondsI feel like Indian gangsters are so ugly that they don't have even a little bit of control over their behavior.
15:0015 minutesWho will invest? Our youth and our population are the power. We need to stop investment in India and stop India's growth.
15:0815 minutes, 8 secondsThe CJP is waging this protest to create a wrong image for these two agendas, which are to make us all suffer without employment.
15:1615 minutes, 16 secondsThe American government started to fight, realizing that it would be impossible to defeat Modi. The Communist Party of India, the Hindi Alliance, and the CJP are all our allies.
15:2415 minutes, 24 secondsWe will support Modi and see him fall. We are supporting him. We will definitely see his strength. This is your time.
15:3215 minutes, 32 secondsThank you very much for taking the time to visit our site. May good things happen to them and they live a prosperous life.
15:3715 minutes, 37 secondsOkay
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