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INPUT On Marine Insurance

This query is : Resolved 
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(Querist)
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 .
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Udaya Chandran

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Udaya Chandran (Expert)
16 November 2021 Yes, you can take ITC on premium paid for transit insurance.
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