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ITC for Group Medical Insurance

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Dear all, Group Medical Insurance is mandatory for our company, as per rule, we can avail ITC, whether it is advisable or not?
Replies (6)

If taking such insurance is under compulsion of any Law then you can claim ITC otherwise not.

If it is obligatory for the employer, then ITC can be availed.

Dont take itc
If we availed ITC means what is the effect while receiving claims

If you have availed itc and such insurance was not mandatory under law then you will have to reverse such claimed itc.

If it is mandatory under any law then no need to reverse.

In term of section 17(5)(b) ITC available on Insurance where it is obligatory for employer to provide the same to it's employees under any Law .


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