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Employers may soon be able to claim ITC on GST paid for employee insurance cover

The GST Council is gearing up to consider a proposal regarding input tax credit for employee insurance premiums. Currently, businesses cannot claim input tax credit on insurance policies purchased for their employees. An 18 percent GST is imposed on these group insurance policies, impacting business expenses.

Employers may soon be able to claim ITC on GST paid for employee insurance cover

We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.

Read the original at economictimes.indiatimes.com →

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