Hello all, i have a query my company take health insurance policy for all empoyee we paid to insurance company premium with gst, can we availed ITC on this payment,
Is answer is different if insurance is mandatory as per factory act 1948.
Employee health insurance
Replies (9)
Quick Summary
Yes ....... ITC on insurance in regard to your query is available only if it is obligatory for Employer under any Law. Else It's block.
(Refer Provisio in Section 17(5) of CGST Act)
(Refer Provisio in Section 17(5) of CGST Act)
But sir, there is no specific section in factroy act as health insurance to be mandatory for employee, although my comapny is cover under factory act.
Can we availed ITC on this payment...?!
- Yes... You can claim ITC for the Insurance...
although my comapny is cover under factory act...
- Your query is based on GST and ITC. Right...?!
- For the said Insurance for employees is secured Your future problems any incidents. It's Your company's own decisions...
- Don't be confuse with GST Act & Factory Act.
- Yes... You can claim ITC for the Insurance...
although my comapny is cover under factory act...
- Your query is based on GST and ITC. Right...?!
- For the said Insurance for employees is secured Your future problems any incidents. It's Your company's own decisions...
- Don't be confuse with GST Act & Factory Act.
ITC disallowed in case of health insurance for employees
But there is specific Section 17(5) of CGST Act , in GST that ITC is block for Health Insurance
Please be check out the details again the health insurance u/s 17(5)... it's not for company take to employees...
But health insurance taken for employees not mandatory in any law. It's depending on Company policy.
Thank you all memebrs.
Section 17(5) of CGST Act , in GST that ITC is block for Health Insurance but Any services which are made obligatory for an employer to provide its employee by the Indian Government under any current law in force
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
