GST On Employees Health insurance
Manoj Kumar (Accountant) (108 Points)
17 July 2018
IS ITC Available on employees medical insurance. pls help
3 Replies
Suvendu Chakraborty
(Accounts Executive)
(259 Points)
Replied 17 July 2018
no ITC for health insurance on employee
Pankaj Rawat
(GST Practitioner)
(55062 Points)
Replied 17 July 2018
As per section 17(5) ITC on Health insurance is Block , except when Government notifies the services which are obligatory for an employer to provide to it employees
under any law for the time being in
force
under any law for the time being in
force
Vinod Babu
(24196 Points)
Replied 18 July 2018
Under GST, ITC credit of GST paid is not available on rent-a-cab, health insurance and life insurance except the following:
Government makes it obligatory for employers to provide it to its employees
goods and/or services are taken to deliver the same category of services or as a part of a composite supply, credit will be available
So, if the insurance is taken because of obligation by the Government, Example: Insurance under Workman Compensation Act, Company can claim ITC.
Government makes it obligatory for employers to provide it to its employees
goods and/or services are taken to deliver the same category of services or as a part of a composite supply, credit will be available
So, if the insurance is taken because of obligation by the Government, Example: Insurance under Workman Compensation Act, Company can claim ITC.
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