Can Claim Income Tax Benefit for GST paid on Insurance premium?

As per the Law GST is charged 18% on the Premium paid for Insurance. Under section 80 C and 80 D of Income Tax Act ,the Premium paid for Insurance policy can be claim for Tax benefit and policy holder also claim GST amount also.
GST is charged by the supplier of services from the recipient with the actual of service.

For Life Insurance –

The GST rate varies from person to person depending upon the product. For instance, the Term insurance come with 18% GST on basic premium whereas the traditional endowment insurance plan come with 4.5% GST for the first year and 2.25% for the second year.
In ULIPs, while calculating GST the investment portion is excluded from the gross premium. Hence, 18% GST is not applied on the whole premium, but it is levied on the various charges that an investor pays like fund management charges and mortality charges.
For Life Insurance under section 80 C of Income Tax, the tax benefit can be claimed .

For Health Insurance –

For Health insurance 18% GST is charged on the premium .Under section 80 D of the Income Tax, the Tax benefit can be claimed for the payment made for health insurance polices.
Note- The tax saving deduction amount is subject to an investment limit available under the particular section.

GST rates on Different types of Insurance products –

1. Health Insurance-18%(Basic Insurance premium )
2. Term Insurance-18% (Basic Insurance premium)
3. ULIPs- 18% ( Charges like mortality charges)
4. Traditional Plan -4.5% ( for 1st Year) and 2.25% (2nd year)