GST Council May Allow ITC on Company Cars & Group Health Insurance – Major Relief Proposed for Businesses
GST Update Analysis
ANAYLITICAL VIDEO:
INTRODICTION
The GST Law Committee has proposed significant amendments aimed at improving the ease of doing business by allowing companies to claim Input Tax Credit (ITC) on certain business expenditures that are presently blocked under Section 17(5) of the CGST Act.
If approved by the GST Council, businesses may soon become eligible to claim ITC on:
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