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Tuesday, April 7, 2015

GST-Blocked Input Tax (BL)

Recognize as expenses - GST Not claimable account
Blocked Input Tax Included:

  • Passenger motor car or hiring of passenger motorcar
  • Club subscription fees
  • Medical and personal accident insurance premium
  • Medical expenses
  • Family benefits
  • Entertainment expenses 
Passenger motor car as a motor car of a kind normally used on public roads that is constructed or adapted for carrying not more than nine passengers including the driver and unladen weight of which does not exceed 3000 kilograms.

Club subscription fees as any joining fee, subscription fee, membership fee, transfer fee or other consideration charged by any club, association, society or organization established principally for recreational or sporting purpose or by the transferor of the membership or such club, association, society or organization.

Medical and personal accident insurance premium as any payment or contribution for insurance contract:-
  • to indemnify the taxable person against the cost of medical treatment to any person
  • to cover the cost of medical treatment in which the insured is any person employed by the taxable person or
  • to cover cost of personal accident in which the insured is any person employed by the taxable person
Medical expenses as any medical expenses in connection with the provision of medical treatment to any person employed by the taxable person

Family benefits as any benefits (including hospitality of any kind) provided by the taxable person who is the wife, husband, child or relative of any person employed by the taxable person for the purposes of any business carried on or to be carried on by the taxable person.

Entertainment expenses as expenses incurred on spouse or family members and potential clients

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