Xavier Mundattil (12 Points)
29 October 2018OUR I T COMPANY HAD TAKEN HEALTH INSURANCE FOR THE STAFF. THE INSURANCE COMPANY HAD UPLOADED THEIR INVOICE IN THEIR GSTR 1 AND IT IS APPEARING IN OUR GSTR 2A. HENCE WE CLAIMED ITC FOR THE GST AMOUNTS IN THE SUBSEQUENT MONTH. NOW IT SEEMS IT IS NOT ADMISSIBLE FOR ITC. WE HAVE NOT CLAIMED REFUND - AMOUNT IS LYING IN OUR CREDIT LEDGER. HOW TO REVERSE THE CLAIMED AMOUNT? WHERE SHOULD WE SHOW THE AMOUNT IN GSTR 3B?
PLEASE GUIDE US
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 29 October 2018
Why it's not admissible ITC...?
Xavier Mundattil
(12 Points)
Replied 31 October 2018
Sec 17(5) - PART
ITC shall not be available to registered persons on renting a cab, life and health insurance supplies received by it, except where the government notifies that the employer is obligated to provide these services to the employee in force or such supplies are procured for further providing the similar category of services.
IN THIS FORUM, FEW HAD COMMENTED SO QUOTING THE ABOVE SECTION.
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CAclubindia
