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This query is : Resolved 

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This discussion clarifies that a cash flow statement is not mandatory for LLPs. It also addresses the eligibility of GST input tax credit (ITC) for employee health and accident insurance. ITC can be claimed for group insurance if it's a mandatory employment term or required by law, even if claimed retrospectively in March 2022 for a May 2021 payment, provided it's reflected in GSTR 2B.

25 November 2021 Sir, could you please update cashflow statement of LLP. And please clarify cashflow is mandatory for llp

25 November 2021 Cash flow is not mandatory for llp.

28 March 2022 Sir, A Pvt Ltd company has paid insurance of accident and health insurance services for the employees...in this regard, a company can claim Gst input for that. Payment dt may 2021 shall we claim the input in March 2022.

28 March 2022 Yes, ITC can be claimed if as per terms of employment it's mandatory to provide such insurance.
Check GSTR 2b and claim ITC in March no problem.

28 March 2022 Sir, is it possible to make an input claim even if they mentioned in the policy as accident and health insurance. The value of input is almost 15 lakhs.

28 March 2022 Is it group insurance.
Is the terms of employment provide for it.

28 March 2022 Yes sir it is group insurance and also some terms also there

28 March 2022 As per the Section 17(5), input tax credit of health insurance is available if it is mandatorily required to be provided to employees under any law for the time being in force.

29 March 2022 Thank you very much sir..

29 March 2022 I'm clear now sir thank you

29 March 2022 You are welcome.............


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