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Gst on car insurance premium

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(Querist)
11 September 2023 Can I take Itc on car insurance premium in my gst co which have iron and steel business.please clarify?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
11 September 2023 ITC on car is blocked u/s 17(5) so no ITC can be taken on car insurance.
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ARUN GUPTA

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ARUN GUPTA (Querist)
11 September 2023 I have taken Itc on car insurance premium



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CA. Bhavik P. Chudasama

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CA. Bhavik P. Chudasama (Expert)
11 September 2023 It is covered under Blocked Credit and ITC is not eligible for Insurance paid on Car Premium
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RAJA P M

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RAJA P M (Expert)
11 September 2023 Yes I agreed with above said replies. The Car insurance premium related Tax is blocked under sec 17(5). So, You want to reverse the ITC which is taken and interest is also applicable...

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