The Modi government has given Diwali gifts to government employees. Now they can also shop under LTC cash voucher scheme in the name of their spouse or other family members and can take advantage of the government’s new scheme. Explain that on 12 October the Finance Ministry had announced a cash voucher scheme for LTC in lieu of LTC. Under this, LTC can be availed even without travelling. Before this, the workers had to travel and had to pay their bills to take advantage of it.
Benefit will be given only in the name of the members recorded in the service records
The Department of Expenditure has released related FAQs. According to the FAQ, this facility will be available on purchases in the name of the same family members who are eligible for LTC Fair as announced in the service records. The Department of Expenditure under the Ministry of Finance says that the special cash package scheme can be availed in lieu of LTC by 31 March next year.
The items purchased after October 12 will only benefit
It has also been clarified in the FAQ that this benefit will be available only on goods or services that have been transacted on or after October 12. It is necessary to have a GST invoice to take advantage of this. The scheme will also benefit from EMI purchases. It has been clarified in the FAQ that if an employee has not availed LTC scheme before October 12, then after that he can avail LTC scheme by purchasing goods or services falling in the GST slab of 12% or more. Huh.
Cash payment will not benefit
There are also some conditions attached to benefit under LTC Cash Voucher Scheme. First of all, the condition is that whatever purchase is made, it should have a GST of 12 per cent or more. Apart from this, payment was made through digital mode or check, demand draft. You will not get the benefit of this scheme on payment by cash.