The federal government has determined to ease the principles associated to Depart Journey Concession (LTC) for central workers. This ease will solely profit these workers who couldn’t declare their LTC until the final deadline i.e Might 31, 2021.
What’s an LTC Money Voucher Scheme?
The LTC is one thing that’s supplied by the central authorities to its workers, which is a advantage of travelling as soon as in 4 years to any a part of India. Aside from this, workers also can benefit from this scheme to go to their properties twice in 4 years. Resulting from Covid-19, journey within the nation and the world was closed, so it was troublesome to say LTC. That is why the central authorities introduced the LTC money voucher scheme instead. On this, central workers can use their LTC funds to purchase these issues on which GST is greater than 12 per cent. You’ll be able to declare these payments later. However the fee for the acquisition ought to be carried out electronically.
A clarification has been issued relating to the LTC money voucher scheme from the Division of Expenditure beneath the Ministry of Finance, which says that the Central Authorities Departments and Ministries have been ordered to get LTC settlement after the due date of Might 31, 2021.
An Workplace of Memorandum has additionally been issued by the Division of Expenditure relating to this. The Memorandum says that in relation to the scenario arising as a consequence of Covid-19, the division has needed to face difficulties within the settlement of claims and payments, that is why the date has been prolonged past Might 31, 2021.
This choice has additionally been taken as a result of the coronavirus second wave was at its peak in Might as a consequence of which many workers couldn’t declare their LTC and demanded to increase the deadline.