GST input credit allowed or not

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15 Points Posted on 18 July 2020
GST paid on mediclaim insurance policy by individual allowed GST input credit or not.
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On 18 July 2020 at 21:11 Report
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This discussion clarifies whether GST input credit is allowed on mediclaim insurance policies purchased by individuals. The consensus is that it is not allowed. This is because, according to Section 17(5)(g) of the CGST Act 2017, input tax credit is blocked for goods or services used for personal consumption, and health insurance falls under this category.

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1102 Points Posted on 18 July 2020
No, credit is available
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On 18 July 2020 at 21:55
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"Do the Right Thing...!!!"
128157 Points Posted on 18 July 2020
No... ITC can't be avail for taken Health insurance by individual (self).
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On 18 July 2020 at 22:08
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Student
23693 Points Posted on 19 July 2020
As per the Provision of Section 17(5) clause (g) of the CGST Act 2017, ITC is specifically BLOCKED incase of "Goods or Services or both used for PERSONAL CONSUMPTION."

Hence ITC of GST paid on Mediclaim Insurance is not allowed.
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On 19 July 2020 at 00:56
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15 Points Posted on 19 July 2020
Thanks to All for your valuable advice.
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On 19 July 2020 at 10:44
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"Do the Right Thing...!!!"
128157 Points Posted on 19 July 2020
You are most welcome
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On 19 July 2020 at 10:45

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