ITC for Group Medical Insurance
Siva Raj (358 Points)
27 June 2021
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 27 June 2021
If taking such insurance is under compulsion of any Law then you can claim ITC otherwise not.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 27 June 2021
If it is obligatory for the employer, then ITC can be availed.
Siva Raj
(358 Points)
Replied 27 June 2021
CA Altamush Zafar
(GST Consultant)
(15961 Points)
Replied 27 June 2021
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.
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 27 June 2021
Live class on PF & ESI Enrollment & Returns Filing(with recording)