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A Game-Changer for Corporate Wellness: How the New GST ITC on Group Insurance Be
The landscape of employee health benefits in India has shifted significantly. Following the latest GST Council meeting chaired by Finance Minister Nirmala Sitharaman, the government has recommended a landmark amendment to Section 17(5) of the CGST Act, 2017. Employers are now officially permitted to claim Input Tax Credit (ITC) on group health and life insurance premiums paid for their workforce.This long-awaited update dismantles a major tax hurdle that previously treated corporate employee ......more