Hi experts,
What are the ITC Implications if EDLI (Employee deposit linked insurance) is taken from
a) 3rd party Insurer
b) EPFO
1.Is ITC Disallowed in both or
2.Disallowed for only b) (EPFO)
3. Allowed for both since EDLI is a statutory requirement
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GST-Blocked credit
Replies (1)
You can claim Input Tax Credit (ITC) on the GST paid for EDLI premiums because it is a statutory obligation for employers under the Employees' Provident Funds Act, which qualifies for an exception under the GST law (Section 17(5)). This applies regardless of whether the service is provided by a third-party insurer or the EPFO, provided you have a valid tax invoice.
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