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GST input credit allowed or not
GST paid on mediclaim insurance policy by individual allowed GST input credit or not.
Replies (5)
No, credit is available
No... ITC can't be avail for taken Health insurance by individual (self).
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.
Hence ITC of GST paid on Mediclaim Insurance is not allowed.
Thanks to All for your valuable advice.
You are most welcome
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