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ITC ON Group Insurance premiums of Employees

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Sreeram Kanchanam 17 April 2021

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

CMA Poornima Madhava (ACMA) 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.

Sreeram Kanchanam 17 April 2021

Thank you Madam

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