TaxTMI 
TaxTMI 
ITC on key man insurance policy
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....TC on key man insurance policy<br> Query (Issue) Started By: - Nisha Prabhu Dated:- 30-9-2019 Last Reply Date:- 17-6-2020 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>Whether input tax cred....
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....it is allowed on key man insurance policy taken of officers and directors Reply By KASTURI SETHI: The Reply: Go through proviso to Section 17(5)(b) of CGST Act which is as follows:- Provided that ....
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....the input tax credit in respect of such goods or services or both shall be available, where it is obligatory for an employer to provide the same to its employees under any law for the time being in fo....
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....rce.] Thus if key man insurance policy taken for officers and directors is obligatory on the part of Employer-Company, ITC can be taken, otherwise not. Reply By Bharat Sharma: The Reply: Please gui....
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....de us on the GST credit availability on Directors & Officers Commercial liability insurance as well.<br> Discussion Forum - Knowledge Sharing ....