Itc-gst

This query is : Resolved

Angad (Querist)
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23 February 2018 Sir/Madam,
(1) If we get a bill from Medical Insurance Company for Group Employee Insurance, Can we take ITC
(2) If any employee submit medical policy bill for 80C benefit and in that bill GST is charged, which amount should we considered for 80C allowance
(a) gross Amount with GST
(b) net of GST
(3) If we get bill from Insurance Company for our goods(material) insurance, can we take ITC of GST.

CMA Bhavya

CMA Bhavya (Expert)
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23 February 2018 Please note Medical Insurance for Employee is not eligible for claiming an Input Credit as per Sec.17(5) of CGST ACT. However their are exceptions for the said insurance
a. If the Government notifies the services which are obligatory for an employer to provide to employee under any law time being in force.
B. the nature of the business are similar so that it can take an input credit.