As Per Ministry of Home affairs Guidelines in April 2020 mandating the Employees health Insurance. Based on that circular Can a corporate avail GST credit of Employee Health Insurance expenses?
- Policy is for the period Feb 2020 to Feb 2021. What will be the period of ITC? Please revert
Frah Saeed Answered question June 15, 2020
Tax payers can avail ITC on medical insurance policy taken for its employees only if such policy is taken between 15.04.2020 to 17.05.2020 as SOP for medical insurance was withdrawn by MHA vide order dated 17.05.2020.
Rest will remian blocked under Section 17(5) of the CGST Act,2017.
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Frah Saeed Answered question June 15, 2020