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ITC on Health Insurance Expenses

As we know that the input tax credit of tax paid in respect of the inward supplies of goods or services used or intend to be used in course of business of making taxable supplies can be availed by the registered person. The ITC is eligible except on the specified list of blocked credit given under section 17(5). ITC on health insurance expenses of employees is an area which requires some clarifications. In this article we are going to discuss............. Read More

Input Tax Credit for Canteen Services Provided by the Company to its Employees

In India, the majority of companies offer canteen facilities to their employees on a voluntary basis or in compliance with Section 47 of the Factories Act 1948, which mandates that companies with over 250 employees must provide canteen facilities. For providing such service the companies usually entered into an agreement with the contractors to operate canteen within the premises of the company and provide food to employees ..... Read More