GST credit on group gratuity scheme
This query is : Resolved
17 November 2020
can i avail GST credit on group gratuity scheme in case of a company. scheme covers risk for life cover and gratuity?
Guest
Guest
(Expert)
17 November 2020
Here, GST applies on life insurance cover, which is not allowed to be claimed.
17 November 2020
Dear Sir/Madam,
Section 17(5)(b) of CGST Act 2017 ...
(i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery, leasing, renting or hiring of motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) except when used for the purposes specified therein, life insurance and health insurance;
its listed in blocked credit so you cannot avail the ITC on life insurance.
regards,
Bhavya.P
Section 17(5)(b) of CGST Act 2017 ...
(i) food and beverages, outdoor catering, beauty treatment, health services, cosmetic and plastic surgery, leasing, renting or hiring of motor vehicles, vessels or aircraft referred to in clause (a) or clause (aa) except when used for the purposes specified therein, life insurance and health insurance;
its listed in blocked credit so you cannot avail the ITC on life insurance.
regards,
Bhavya.P
17 November 2020
However, you can claim on the gratuity portion. Take a bifurcation from the service provider.
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