INPUT On Marine Insurance
This query is : Resolved
16 November 2021
We are in to petrochemical products . and all this inputs are purchased from domestic as well as outside country and makes a transit sale without bringing to our premises . and for that we have made a insurance of stock and paid a premium . we want to know can we avail the input credit of gst paid on such premium .
Udaya Chandran
(Expert)
16 November 2021
Yes, you can take ITC on premium paid for transit insurance.
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