Itc against insurance paid mbd policy

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Srinivas (Querist)
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26 July 2017 Can registered company take ITC against insurance paid machine break down policy and fire policies etc

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CA Sukesh Bhatia (Expert)
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27 July 2017 Yes, GST paid on these premiums is allowed as ITC.

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Srinivas (Querist)
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27 July 2017 Thank you sir, can you brief about under which section it comes.

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CA Sukesh Bhatia (Expert)
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27 July 2017 Section 2(59) read with Section 16

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