🚨 Input Tax Credit on Staff Cars & Employee Group Insurance Under GST May Finally Be Allowed..!! 🚨 There is positive movement on a long-pending industry demand. The Law Committee of the GST Council has recommended that companies be permitted to claim Input Tax Credit (ITC) on vehicles purchased in the company’s name for employee use and on group health and life insurance policies taken for staff. These proposals form part of the ongoing ease-of-doing-business review and are expected to be placed before the next GST Council meeting. 📉 The Current Scenario At present, ITC on passenger vehicles is restricted except for a few specified categories such as manufacturers, dealers, and certain transport operators. Related costs like vehicle insurance, repairs, and maintenance are also blocked. On the insurance side, credit is available only in limited situations. For most businesses, the GST paid on these expenses simply ...