The government has introduced another initiation LTC (Leave Travel Concession) Cash Voucher Scheme to benefit employees. This scheme benefits the employees who are facing problems due to the Covid Pandemic in the from of reimbursement. Under the Cash Voucher Scheme, the employees can claim the LTC amount as tax-exempt if they purchase the goods or services that attract more than 12% of GST. However, this applies to the goods and services such as TV DTH Recharge, Internet Broadband Payments, mobile phone bills, etc. All this information has given by the government in the latest FAQs released in October. All the employees of the Central Government and Public Undertakings will cover under the LTC Scheme.
LTC Cash Voucher Scheme 2021
This article explains the online procedure to Apply, Online Registration Form, Eligibility Criteria, and the scheme’s benefits.
Eligibility Criteria for Cash Voucher Program
Find out the eligibility criteria to get eligible for the LTC Cash Voucher Scheme below. This is for the eligible employees of Central Government.
- Any goods and services which attract the GST of 12% and above would qualify for the scheme.
- All Central Government Employees are eligible for the scheme.
- Public Sector Banks (PSBs) and Public Sector Undertakings (PSUs) will also qualify for the scheme.
- The employee family members should be less than 4 to avail of this scheme.
- An employee should incur the expenditure on or before 31-03-2021.
- The services like interior design and phone bills are also included in the scheme.
- The number of transactions are limited.
- Employees can claim for the purchases made on e-Commerce portals with a proper invoice.
- Multiple bills are accepted under the LTC Scheme.
Benefits of LTC Cash Voucher Yojana
Let us see the benefits the central government employees derive from the LTC Voucher Scheme 2021.
- It avails of full payment on leave encashment.
- Employees will be given a cash allowance without travelling.
- The Fare Payment under this scheme is tax-free.
- It also covers the purchase of Interior Designing Items and Phone Bills.
- The payment of a fare in 3 slab rates slabs depending on the class of entitlement.
- Employees can get the tax exemption on the products or services with more than 12% of GST.
Online Application and Registration Procedure of LTC Cash Voucher Scheme 2021
- In the instance, there is no official announcement regarding the online procedure for applying the scheme.
- The employees can fill the claim form and apply for the reimbursement.
- Any further information regarding the scheme will be updated once after there is an official announcement.
- Please stay visiting our articles to get the latest information about the online application procedure.
Leave Travel Concession (LTC) Scheme FAQ’s
Are the purchases from the e-Commerce platforms acceptable for availing of the cash voucher scheme?
The purchases of the cash voucher scheme are acceptable with proper invoice details of the transactions.
Is there any limit on the number of transactions under the LTC Cash Voucher Program?
There is a limit on the number of transactions done by the employees to avoid any difficulty or delay.
What are the items listed in the Cash Voucher Plan?
The goods and services like Mobile Bills, DTH Payments, Broadband Payments, etc. are listed under the scheme.
Is there any prescribed application process to apply this reimbursement scheme?
No, there is no prescribed process to avail of this reimbursement scheme. It needs a simple prior claim form for reimbursement.