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ITC available on factory insurance

rahul tambe (2 Points)

29 January 2018

ITC available on expenses of factory insurance??

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7 Replies

Raj Chaurasia (273 Points)
Replied 29 January 2018

no itc of life insurance(note only life insurance) available as per 17(5)

however if ur factory is required to take life insurance compulsorly required by government ...then itc will be allowed.

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jatin sojitra (Student CA Final ) (63 Points)
Replied 29 January 2018

yes itc available on factory insurance..

Manish Savani (Student) (56 Points)
Replied 29 January 2018

yes available , they have restricted ITC on life insurance and health insurance
factory insurance is general insurance the ITC ofwhich is open i mean allowed

Raj Chaurasia (273 Points)
Replied 29 January 2018

ya itc of factory insurance is allowed.

THIRUMALAI (IND) (22 Points)
Replied 24 August 2018

ITC available on expenses of Vehicle insurance?

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SATYENDRA KUMAR RAY (Student CA Final ) (23 Points)
Replied 27 February 2019

Yes, allowed

kundan (ACCOUNTANT ) (22 Points)
Replied 23 March 2019

YES,ALLOWED.

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