LTC Cash Voucher Scheme Order 2020 - Summary
Under LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment + 3 times the ticket fare, to buy something of their choice. The items bought should be those attracting GST of 12% or more. Only digital transactions are allowed, GST Invoice to be produced.
The biggest incentive for employees to avail the LTC Cash Voucher Scheme is that in a four-year block ending in 2021, the LTC not availed will lapse, instead, this will encourage employees to avail of this facility to buy goods which can help their families.
Estimated cost of LTC Cash Voucher Scheme: For Central govt. : ₹ 5,675 crore; for PSBs & PSUs: ₹ 1,900 crore.
Tax concessions for LTC tickets available for state govt. & private sector too, if they choose to give such facility, these employees too can benefit.
For more details download the LTC Cash Voucher Scheme Order 2020 in PDF format using the link given below.
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