 "goods and services tax, GST")
The Goods and Services Tax (GST) Council may deliberate on extending input tax credit (ITC) to corporates providing health and life insurance cover to their staff, a senior government official told Business Standard. This comes even as such group policies are set to remain outside the ambit of GST exemption, the official added.
ITC allows businesses to offset the tax paid on inputs against their output tax liability.
“ITC on group health and life insurance policies may be taken up for discussion. But there is no proposal to exempt these policies from GST. They will continue to attract 18 per
