Can insurance premium

This query is : Resolved

ARUN GUPTA (Querist)
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16 September 2021 Can we claim gst charged on car insurance premium ? We are suppliers of Iron and steel goods and fabrics. Car is in our proprietorhip firms name.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 September 2021 Car is used for personal transportation. ITC can't be claimed on it's insurance premium.

ARUN GUPTA

ARUN GUPTA (Querist)
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16 September 2021 We use car for visit to party and for Collection from party.

ARUN GUPTA

ARUN GUPTA (Querist)
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16 September 2021 We claim depreciation on car in Income tax

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 September 2021 ITC not allowed on cars.

Udaya Chandran

Udaya Chandran (Expert)
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17 September 2021 ITC on motor vehicles used for transportation of persons having seating capacity less than 13 is not available.

ARUN GUPTA

ARUN GUPTA (Querist)
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17 September 2021 Gst on repairs of car also not available for inputs?

Udaya Chandran

Udaya Chandran (Expert)
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17 September 2021 Yes, ITC on repairs & maintenance, insurance related to such motor vehicles (in your case) are not allowed other than for those taxable supplies as mentioned in the Act.

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