Sir,
we have taken Group insurance policy for our Employees. Can we claim ITC on the same.
please suggest us in this regard
regards,
Sreeramulu Kanchanam
7 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 17 April 2021
This is specifically disallowed u/s 17(5) of CGST Act. So no ITC can be availed as such. However, if obligatory for the employer to provide such insurance, then ITC may be availed.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 18 April 2021
ITC cannot be claimed on group insurance policy for employees it is blocked
Mujeeb Doi
(309 Points)
Replied 21 April 2021
Generally, it is blocked but if the state laws or any other regulatory body requires the same, then the employer can taki ITC
Sanket Singh
(11 Points)
Replied 06 February 2022
Since group insurance is mandatory as per worker law ITC on the same can be claimed
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