GST Council Approves ITC Refunds on Capital Goods and Services

The GST Council approved changes expanding input tax credit (ITC) eligibility, allowing refunds on accumulated credit for input services and plant machinery. Businesses can now claim ITC on employee health and life insurance, telecommunication towers, pipelines outside factories, free samples, and expired stock destruction. The Council also addressed double taxation on resold services like hotel bookings under ₹7,500, catering, and passenger transport, removing previous ITC denials on these 5% tax rate services.

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