Can we claim ITC on Corporate Medical insurance to insurance company for our employees

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Accountant
39 Points Posted on 07 June 2021
Can we claim ITC on Corporate Medical insurance to insurance company for our employees
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On 07 June 2021 at 08:35 Report
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Quick Summary
This discussion clarifies whether Input Tax Credit (ITC) can be claimed on corporate medical insurance premiums paid for employees. The general consensus is that ITC is not available for such insurance unless it is made mandatory by law. Therefore, for standard corporate medical insurance policies, claiming ITC is typically not permitted.

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Accountant
39 Points Posted on 07 June 2021

Can we claim ITC on Corporate Medical insurance paid to the insurance company for our employees..?

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On 07 June 2021 at 08:37
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Chartered Accountant
24588 Points Posted on 07 June 2021
No you cannot ITC in this case
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On 07 June 2021 at 09:14
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GST Consultant
15986 Points Posted on 07 June 2021
ITC will be available only if such insurance is mandatory under any law otherwise it is not available
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On 07 June 2021 at 09:29
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Chartered Accountant
24588 Points Posted on 09 June 2021
Yes it's not available
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On 09 June 2021 at 11:18

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